Video Games Giant Nexon Buys Korbit Exchange for $80 Million

[kreslik.news]

Korean cryptocurrency exchange Korbit has been acquired by NXT, the parent company of PC and mobile video games giant Nexon (TYO: 3659).

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With rumors circulating in the market that Korbit was sold for as much as $150 million, an NXT representative today confirmed to TechCrunch that it paid 91.3 billion KRW (about $80 million) for 65.19% of its shares, giving the exchange a valuation of over $120 million.

Founded in 1994 in Seoul, Nexon is now headquartered in Tokyo where its stock is traded. It had revenues of over ¥180 billion ($1.625 billion) ... (read more)