Saudi organization MiSK Foundation plans to buy majority stake in SNK – News

The Saudi organization MiSK Foundation (Mohammed bin Salman Foundation) revealed Thursday that it will invest $ 216.5 million in a Japanese game developer SNK through MiSK FoundationA wholly owned electronic game development company. the MiSK Foundation will hold an initial 33.3% stake in SNK.

The Electronic Gaming Development Company will follow by purchasing a 17.7% stake in the future, bringing its stake to 51% of SNK. The organization said the investment was still “subject to compliance with relevant regulatory conditions.”

SNK has not yet itself confirmed the announcement by MiSK Foundation.

Mohammed bin Salman bin Abdulaziz, the Crown Prince of Saudi Arabia, is the founder and president of the organization. The Saudi organization and animation studio Manga productions (also property of MiSK Foundation) have organized an internship program with SNK in the old days.

In August 2015, 37 Games, the online games company partly owned by Wuhu Shunrong Sanqi, purchased an 81.25% stake in SNK Play more. 37 Games purchased the stake for 63.5 million US dollars (approximately 7.92 billion yen).

SNK Corporation was founded in 1978, but the company filed for bankruptcy in 2001. SNK Playmore was founded in August 2001, and the company has also developed pachinko slots and smartphone games in addition to console games, but has withdrawn from the pachislot business. pachinko) in 2015. SNK Playmore later changed its name to SNK Corporation in December 2016.

SNK is known for its franchises such as king of fighters, Metal slug, Fatal fury (Garō Densetsu), and Samurai Shodown (Samurai spirits) and the NeoGeo console.

Sources: MiSK Foundation, 4Gamer (Ryuichi Matsumoto) via Siliconera