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HomeBusinessNexon selling 34.8% stake in 6Waves to Stillfront

Nexon selling 34.8% stake in 6Waves to Stillfront

Nexon is divesting itself from mobile publisher Game 6Waves. Stillfront Group will acquire the take its share in the firm instead.

Reuters reports the 34.8% stake will be sold for around $93 million. Nexon originally made this investment back in 2011.

The site said it was Hong Kong-based 6Waves that requested Nexon sell its stake to Stillfront, and a statement from Nexon partly indicates why it agreed.

“Since [2011], Nexon and 6Waves have not achieved the business results initially expected and the investment came to be positioned as pure investment at Nexon,” the company said.

Nexon is still analysing the impact this sale will have on its first quarter financial results later this year.

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