Saudi Prince Has Acquired a 96% Stake in SNK - News
by William D'Angelo , posted on 06 April 2022 / 5,919 Views
Saudi Prince Mohammed bin Salman through his Electronic Gaming Development Company (EGDC) has acquired a 96 percent stake in Japanese developer SNK. EGDC is owned by the Mohammed bin Salman Foundation (MiSK Foundation).
This follows an investment announced in November 2020, which saw the MiSK Foundation acquire a 33.3 percent state in SNK. At the time it planned to eventually acquire a 51 percent state in the gaming developer.
"The Mohammed bin Salman Foundation’s (MiSK Foundation) investment in the Japanese company SNK reinforces its continuous commitment to its goals of empowering Saudi men and women through building economic partnerships, within the Foundation’s updated strategy to maximize the positive impact on youth empowerment," reads a press release from MiSK Foundation in November 2020.
"The investment decision will also enhance SNK’s strong capabilities, which has many innovative intellectual properties in the gaming sector with real potential for development in the future in line with anticipated growth with the electronic gaming industry."
Saudi Arabia’s Public Investment Fund did recently acquire a more than five percent stake in Capcom and Nexon. The investment is worth over $1 billion. The Saudi Arabia’s Public Investment Fund also invested over $3.3 billion in stock in Activision Blizzard, which is in the process of being acquired by Microsoft, as well as in Electronic Arts, and Twake-Two.
Thanks, The Verge.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel dedicated to gaming Let's Plays and tutorials. You can contact the author at wdangelo@vgchartz.com or on Twitter @TrunksWD.
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I came here to see Captain's Explosion. I'm disappointed with how (relatively) reserved he's been.
There's the usual Captain!
Wonderful. Prince Bone Saw is going on a charm offensive.
Jeez! I wonder what kind of fatalities he’s going to force into King of Fighters?
Also, invested in Twake-Two according to article. I believe they are the Chinese knockoff company that produces 3K sports titles and Grand Stickup Auto titles.
They should move to own 200% of the shares next.
Awesome!! Some fps games in which we get to fight against ISIS.
Not that I care for either one of those idiots but since I your comments are hiding broader feelings, let me say that may you and anyone that supports you end up like the knights in the battle of Hattin, cut to pieces or enslaved every last one.
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