• Hey, guest user. Hope you're enjoying NeoGAF! Have you considered registering for an account? Come join us and add your take to the daily discourse.

Saudi Prince Mohammed bin Salman has now acquired almost all of SNK (VGC)

Status
Not open for further replies.

kingfey

Banned

Saudi Prince Mohammed bin Salman has acquired 96% of acclaimed Japanese developer SNK.

Through his Electronic Gaming Development Company the Prince now owns almost all of the developer behind Fatal Fury, Metal Slug and The King of Fighters. The Electronic Gaming Development Company is a subsidiary of the Mohammed bin Salman Foundation.

In 2021, a US intelligence report found that Saudi Crown Prince Mohammed bin Salman approved a plan to either “capture or kill” journalist Jamal Khashoggi in 2018.

“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,” said a press release when the investment was first proposed last year.

Interestingly, the deal was formalised in February of this year but has only recently been brought to light, implying that SNK was perhaps not interested in widely publicising the deal. Confirmation of the investment was discovered as part of SNK’s February 15, 2022 Korean-only filings.

This is the latest in a series of investments in gaming by companies associated with the Crown Prince. Earlier this year, Bloomberg reported that the nation’s Public Investment Fund has been used to invest stakes of more than 5% in both Capcom and Nexon. These investments totalled over $1 billion.

In December 2020, the fund acquired over $3 billion worth of stock in Activision Blizzard, Electronic Arts and Take-Two.

It’s set to receive a profit on part of that investment if Microsoft‘s acquisition of Activision Blizzard is successfully completed, as the deal will see all shares bought out for $95, whereas throughout December 2020 the price ranged from $79-91 per share.

The Public Investment Fund is reportedly central to crown prince Mohammed bin Salman’s goal of making the Saudi economy less reliant on proceeds from oil.
 

STARSBarry

Gold Member
 

Vognerful

Member

Saudi Prince Mohammed bin Salman has acquired 96% of acclaimed Japanese developer SNK.

Through his Electronic Gaming Development Company the Prince now owns almost all of the developer behind Fatal Fury, Metal Slug and The King of Fighters. The Electronic Gaming Development Company is a subsidiary of the Mohammed bin Salman Foundation.

In 2021, a US intelligence report found that Saudi Crown Prince Mohammed bin Salman approved a plan to either “capture or kill” journalist Jamal Khashoggi in 2018.

“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,” said a press release when the investment was first proposed last year.

Interestingly, the deal was formalised in February of this year but has only recently been brought to light, implying that SNK was perhaps not interested in widely publicising the deal. Confirmation of the investment was discovered as part of SNK’s February 15, 2022 Korean-only filings.

This is the latest in a series of investments in gaming by companies associated with the Crown Prince. Earlier this year, Bloomberg reported that the nation’s Public Investment Fund has been used to invest stakes of more than 5% in both Capcom and Nexon. These investments totalled over $1 billion.

In December 2020, the fund acquired over $3 billion worth of stock in Activision Blizzard, Electronic Arts and Take-Two.

It’s set to receive a profit on part of that investment if Microsoft‘s acquisition of Activision Blizzard is successfully completed, as the deal will see all shares bought out for $95, whereas throughout December 2020 the price ranged from $79-91 per share.

The Public Investment Fund is reportedly central to crown prince Mohammed bin Salman’s goal of making the Saudi economy less reliant on proceeds from oil.
How does this bide with "you can't buy japanese companies" crowd?
 

yurinka

Member
How does this bide with "you can't buy japanese companies" crowd?
Top Japanese companies strategical for their nation in certain areas, like Sony and so on. SNK is a tiny company, obviously could be acquired. Companies somewhere in the middle have to fill extra paperwork and the government has to overview and approve it.
 

McCheese

Member
If they make good games I’ll still buy them, who are the current shareholders and how are they any better? SNK had been whored about for over a decade between questionable owners.
 

22•22

Doesnt need recognition
Finally it's official.

The future of the company is secured and good thing it's not from stupid woke company in the west.

Inb4 the salt


Lol wat

"Stupid woke" "IB4 Salt" ??

"It's official"

You won the war bae?
 
Last edited:

Boss Mog

Member
SNK seems like an odd choice; maybe he was a fan as a kid? I wonder if he will invest heavily to make their franchises compete with Capcom and Arc System Works. A new Fatal Fury with those kinds of production values would certainly be welcomed.
 
Exactly. That’s why I don’t consume anything except NeoGAF.
I heard that the servers run on electricity generated by enslaved Huigur kids that are strapped on stationary bikes and forced to watch woke Disney movies all day while they pedal to their doom.

It must be too hard to have moral values, so we only get fake surface level woke moral values instead.
 

GHG

Member
SNK seems like an odd choice; maybe he was a fan as a kid? I wonder if he will invest heavily to make their franchises compete with Capcom and Arc System Works. A new Fatal Fury with those kinds of production values would certainly be welcomed.

Esports potential.

Surprised (well, maybe I shouldn't be) reading a lot of the reactions to this news here, pretty much what I'd expect on resetera.


Been living under a rock for the last 5 years?
 

Kokoloko85

Member
I thought foriergners cant buy Japanese companies……
People gonna realize thats not true when there favourite publishers get bought
 

Kokoloko85

Member
MS isn't buying Capcom brah. Move along.


I hope not, but the fear is there that it could happen.

I think the reason is because SNK wasnt classified as one of those protected companies like a Nintendo. Otherwise China as a foriegn company wouldnt b able to buy it otherwise. Im not sure what category Capcom or Sega fall under.
 
Status
Not open for further replies.
Top Bottom