Nexon is pulling out of mobile publisher 6Waves and instead Stillfront Group is set to take its stake in the company.
Reuters reported that the 34.8% stake would sell for about $93 million. Nexon first made this investment in 2011.
The site said it was Hong Kong-based 6Waves that demanded nexon sell its stake to Stillfront, and a statement from Nexon partly shows why it agreed.
“Since 2011, Nexon and 6Waves have not achieved the business results initially expected,” the company said.
Nexon is still analyzing the impact of the sale on first-quarter financial results later this year.
In addition, earlier this month Nexon invested $400 million in AGBO, a production company run by Avengers: Endgame directors Anthony and Joe Russo.
