INTERNATIONAL_ Game company Nexon (Korea) recently invested $ 400 million in the production company AGBO, with a valuation of $ 1.1 billion.
AGBO was founded in 2016 by American directors Anthony and Joe Russo, who are known for directing Avengers: Infinity War and Avengers: Endgame. Through the above investment, Nexon Korea will own 38% of AGBO, becoming the largest individual shareholder in the manufacturing company.
Nexon Television and Film Division President and Chief Strategy Officer Nick van Dyk and his colleague Tim Connors will join the Russo brothers and AGBO CEO Jason Bergsman on AGBO’s board.
“The ability to create and sustain blockbuster entertainment series across multiple markets for decades has been deeply rooted in Nexon’s DNA,” said Nexon President and CEO Owen Mahoney. “AGBO and Nexon share a fundamental vision for a thrill-seeking global audience with content spanning multiple platforms and markets.”
Furthermore, Nexon has committed a potential additional investment of up to $100 million in the first half of 2022 as proposed by AGBO.
AGBO Co-Founders and Executive Chairman Anthony and Joe Russo commented: “AGBO is driven by innovators who aspire to work on a cosmic scale. AGBO’s partnership with Nexon represents a significant relationship for entertainment, driving the convergence of franchise and game filmmaking with a global reach. Our partnership is based on our shared vision of the future of entertainment development and utilizing the talents of both companies.”
Last month, Nexon revealed that it had merged its two subsidiaries: Nat Games and Nexon GT, into one entity focused on developing the latter, called Nexon Games. The merger is expected to take place on February 8, 2022. This also shows the strong structure and improvement of the Korean game company for future game development.