The latest market statement for NCSoft from KDB Daewoo Securities is out there, and it has some very interesting news regarding the Korean game company’s future plans.

Citing a rough global game market and “plunging” shares of major companies like Electronic Arts and Nintendo, analyst Chang-kwean Kim reports that

According to the media, NCsoft (together with Nexon) has made an M&A [merger and acquisition] offer to a large overseas game company.

This doesn’t mean outright that NCSoft is looking to acquire EA or Nintendo. That’s how rumors get started, and we’d never stoop to that level (NCSoft/Activision, anyone?).

The report also makes mentions of recent layoffs at NCSoft, affecting 500 people, but thinks that August will be a better month, with closed beta testing for Blade & Soul underway in China and, of course, the launch of Guild Wars 2. Kim estimates about one million copies will be sold in the game’s first two months, translating into about 50 billion Korean won, or about $45 million USD.

Hey, he wasn’t wrong last time about the announcement of the GW2 launch date being “imminent,” even if he was off a little on the exact timing of the release. Maybe we should let him play Over/Under?

Jason Winter has held several positions in the tabletop and video-gaming industry since 1996, including writer, editor, marketing coordinator, and game designer. He's the former editor of Beckett Massive Online Gamer and almost considers himself competent in PvP. In addition to his work with, he also blogs about video games at
  • Tj Vossos

    I’m not sure how I would feel if this were yo happen, it would be a mixture of happy sad and confused 

  • Melanie Dawn McGreevey

    Arena Net?  naww lol

    • falknerblitz

       NCsoft already owns Arena-Net…..

      • Old Ben

        Yeah, but they could buy it again, doubling their profits! That’s how it works, right?

        • falknerblitz

          You’re right….wait so then if they buy them 10 times does that mean they will make 10x the profit….hmmm….maybe I should buy some NCsoft stock shares… >.>

  • Nikolai Tzolev

    Activision? Are NCSoft this big to even consider that, $10 bln. straight up?

    • sukhdeep bhatti

      NCsoft is the biggest one right now in world.

      • Old Ben

        Actually, NCsoft’s market cap is around 5 billion. Nexon is worth another 9 billion.

  • Fish Bait

    Can`t imagine they`d buy ActiBlizz`, but would be hilarious! if they did. :D

    • pandora005

      I really hope they do it and fire Dustin Browder immediately …

  • jo

    Nexon still trying to buy EA.

  • Trollslicer

    TBH Activision Blizzard was the first thing that I thought of…

  • Miguel Rodriguez

    <3 NCsoft

  • Kenneth Meagher

    NCsoft Dwarfs the MMO Companies. With Guild Wars 2 and Blade And Soul being their top games right now making almost Quadruple the amount Activision/Blizzard has made in over 2 years by itself  not to mention EAs Secret World. This is not unexpected at all. Compared to most mmo companies Blizzard has made over 16-17 million dollars in sales over the past 4 or 5 years. EA has made the lowest of all time for a game company at 9 million dollars. Where as NCsoft last 3 years 25- 30 million dollars just in sales of Aion and Gw1 themselves and with Guild wars 2 on the way, might wanna look out MMO Companies! Though Not great with support(but improving) NCsoft has had the largest sale in MMOs from 2011-2012, with support of many fans from all the games NCsoft is my vote for top Company to buy and improve on games already existing. Does this mean War?

    • Jason Horton

      Wow, ignorance is blind. Magic BS numbers ftw, lets do a piece of math here, WoW has 9 million subscribers atm, 9,000,000 X $15 a month is 135,000,000 thats for one month. wheres this ‘they’ve only made 16-17mil in 2 years’ come form? lol!

      • Old Ben

        Over 60% of WoW’s subscribers are in Asia, where they don’t pay a monthly subscription. Also, you seem to think that they have no running costs, no marketing expenses, no management bonuses, etc..

        Blizzard’s profits are around 800 million a year (sales + subscriptions + cash shop), which is kind of low for a company valued at 12 billion. High revenue doesn’t necessarily mean good margins. 

  • Joseph Gabrielli

    Would be hilarious is they bought Blizzard, i hope it happens

    • Old Ben

      Activision-Blizzard seems seriously overvalued, considering their operating profits. I doubt NCsoft / Nexon would pay anything close to its current share price, and Vivendi (who owns 60%) don’t seem willing to sell for less.

  • Jay

    Someone call Sharuko! If this turns out to be true, someone will have to restrain him…

  • Aaron Cutright

    First thing I thought of was Big Huge Games, and 38 Studios.

  • Chris Russell

    Neither Big Huge Games nor 38 Studios exist right as a company that could be acquired, so not those.

  • Cyclops07

    I don’t want NCsoft to have anything to do with EA, not even merging with them

    • pandora005

      They could buy them and then split them and sell theme off piecemeal after sending the EA managers to the antarctic for their new working position.

  • Len Hobbel

    maybe Swtor will be better off with ncsoft owning it

  • BrentonB

    is that aion or archeage in the b-roll?

    • Jason Horton


  • Joseph Giovanni Fiol

    what game is that in the background?

    • Jason Horton


  • Ravenstorm

    If NCsoft should buy 38 Studio’s I hope they reemploy all those poor ppl who suffered during the whole debacle…
    Them buying Blizzard, that’s not realistic I think, Blizz still is a major player in the gaming industry, and probably will be for a very long time.
    And yes I do believe that’s Aion running in the background, if memory serves me well.

  • nathan law

    blizzard were apparently for sale, and ncsoft do mmo’s almost exclusively…

  • Q

    More likely that NCSoft will pick up BioWare Austin (SW:TOR) or another MMO dev house of that nature.

  • Solyad

    Activision/Blizzard will be a hell of a lot cheaper than EA will be especially since Vivendi is looking to dump it.  Should be interesting.

    • Old Ben

      Activision-Blizzard’s market cap is currently more than twice EA’s. 

    • Dularr

      Vivendi was trying to sell Activision/Blizzard at a 20% premium.  No takers at the premium price, so Vivendi has taken it off the table.    

  • Solyad


  • Solyad


  • Mr_Hades

    Nexon makes a lot of money from its free-to-play games – they reported an operating income of £714.51 million last year .will be interesting to c which publishing or game development company they acquire

  • lee long

    as long not EA/Nexon/Activision-blizzard, im happy. they are Cash whore

  • Jado Cast

    If you want to know who it is, just research all the gaming companies wiki pages.  The one with the most updates is probably who they’ll merge with.  /sarcasm

  • DoctorOverlord

    Just the mention of Activision made me shudder in horror.   NCSoft management has historically show they jump between vast extremes of brilliance (acquiring/supporting ArenaNet) and appalling stupidity (hiring the Garriott brothers and trusting them with millions).  

    An Activision acquisition would certainly fit in with the latter category which worries me about the real possibility of it.

  • Sharuko

    So it is safe to call them NexonSoft now because that is pretty much what they are.  I loved this gem from the report, they made $130 million dollars in revenue (down 12%) and Guild Wars was 1 million dollars of that revenue.  So GW accounts for .8% of their revenue, how is that game doing well again?

    • Spammerbam

       Let it out, buddy. The Tera layoffs must’ve hit you hard..

      • Jonathan Hornsby

        We all know Sharuko is a GW2 fanboy; he just likes to troll.

    • 7BitBrian

      A 7 year old game with no sub made a million dollars. Name another 7 year old stand alone game that made a million dollars this year.

      • Sharuko

        Lineage 1 made up 45% of NCSoft’ revenue.  And GW was less than 1%.  So when people keep saying “GW is still going strong” they are lying.

        • 7BitBrian

          Lineage 1 has a sub fee.

          You’re looking at numbers alone and not the facts behind the numbers. If GW had a sub fee it’s numbers would probably be similar, maybe a bit more maybe a bit less. But it has no sub fee.

          It made a million dollars with NO sub fee. Now take that million it made off of how many thousands of thousands of people playing, and add 15/month to it and you’d get comparable numbers.

          But since the pricing models are not the same, one has a sub fee and the other does not, comparing their numbers alone is useless.

          That’d be like saying Diablo 3 selling 10 million copies was nothing, a total failure, because WoW still made 5 times more than D3 did.

          Your logic fails, next time, before posting, try some basic comprehension of the numbers and information at hand first.

          • Sharuko

            If that is the case then a B2P model is a failure compared to a sub model.  If B2P games make that little revenue there is no reason for game developers to support it and make constant content.

            “Selling copies” doesn’t somehow make you a success when your whole business model is based on selling cash shop items. SWTOR could have also said something about selling 2-3 million copies and being content, that wouldn’t have made them a success.

            It is obvious extreme bias clouds your judgement, when the facts are looking you in the face.

          • 7BitBrian

            You’re talking about a 7 year old game, one they are no longer making content for because they have moved on to the next game. Guild Wars 2.

            Guild Wars 1 made 1 million dollars in it’s final year, year number 7, after release, before it’s sequel is to be released. All the years before that made more than 1 million dollars. You’re still not looking at the numbers right or making comparisons that are even remotely similar.For example: By comparison, it’s like saying Halo 2, which came out in late 2004 also, suddenly sold enough copies and DLC to rake in 1 million in revenue, 7 years now after it was released.No one even plays a Xbox anymore, let alone plays this game, online support was even cut it’s so old. But if it wasn’t and they game suddenly garnered that much attention and revenue then you’re damn right it would be considered successful.If it happened you’re damn straight it would be considered a good thing and a success.

            And yes those two games are comparable as the pricing model is almost exactly alike. You pay an upfront price for the game and play as much as you like, you only pay extra if you want extra, skins in GW1 and DLC maps in Halo2. The pricing structure is near identical, and makes for a much safer and similar comparison than sub fee game to no sub fee game revenues.

            Furthermore, had ArenaNet not decided to make GW2 and instead kept updating GW1 instead, releasing more expansions and content that revenue would be even higher. They chose to change, expand, and grow though, so GW1 is going to slowly fall yes, but GW2 grows in it’s wake, and much much bigger than it’s fore father.

          • Sharuko

            Are you trolling? How old do you think Lineage 1 or Lineage 2 is?

          • 7BitBrian

            Both are sub games and both are still regularly updated. Difference is plain for all to see.

            Are you even trying? I get that trolls ignore facts to further their own trolling but I always thought of you more as one very set in his opinions than a troll.

            Troll on though, I will not stop you. If you’d rather ignore facts and twist things for minor amusement, than have a actual conversation, far be it from me to stand in your way.

          • Sharuko

            You just proved my point word for word.  A subscription based game like Lineage 1 is still providing content and updates and making good revenue 14 years after launch.

            When a B2P game is not making content for the game anymore and is not making any revenue 7 years after launch.

          • Spammerbam

            If a B2P game like GW1 didn’t make any revenue, GW2 wouldn’t exist..

            A subscription based game like Tera is barely providing contents and is still not even enough. What’s up with that?

          • Jonathan Hornsby

            Not to burst your bubble Sharuko; but GW1 got a content update early this week. So yeah….just stop trying.

          • pandora005

            He has been a troll for months now (if he ever was anything else).