[Gam] Gamania Will Not Bow To Nexon’s Attempted Acqusition
Nexon may be bigger than Gamania. Nexon may have been a loyal partner of Gamania for over 7 years. Nexon may be partly responsible for a great deal of Gamania’s success. But Gamania has said that it will fight to retain its own independent management control and will not allow itself to be taken over by Nexon Co. Ltd. This comes as Nexon has been actively buying up stock in the company and is reportedly heading towards an attempted acquisition. Nexon is currently the largest shareholder of Gamania, a minority shareholder with approximately 34% of shares.
“In light of current online gaming trends, it would be absolutely detrimental to the development of Taiwan’s online gaming industry if a large-scale foreign corporation was allowed to take control of the local industry’s operating channels and resources, whether the integration is horizontal or vertical,” Gamania said in a news release.
“However, Gamania will insist on the independence of our company’s operating rights and will absolutely not accept the merger with South Korea’s Nexon,” it noted.
“As a major shareholder of the company, Nexon is interested in maximizing shareholder profit,” Nexon said in a statement released Monday.
“Our goal is to maximize such benefits not only for specific shareholders, but for all shareholders of the company,” it said.
Gamania has been in operation out of Taiwan for 17 years and has recently signed an agreement for Nexon for the Taiwanese service of Cyphers. Gamania is the number one game publisher in Taiwan, Hong Kong and Macau where they publish games like MapleStory, Dragon Nest, Counter-Strike Online, Kart Rider, Mabinogi, Atlantica, Dungeon Fighter Online, PopTag!, Sudden Attack, Lineage, GetAmped, Grand Chase and Elsword.
This should play out interestingly…