South Korea’s Second Largest Exchange Korbit Acquired at $150 Million Valuation

NXC, the holding company of Nixon, a $ 10 billion Japanese gaming company founded by South Korean businessman Kim Jong-jou in 1994, has acquired Corbett, the second largest exchange of kryptokernese in South Korea and the first exchange of the country's homeowners, at a $ 150 million valuation.

According to sources close to the transaction including Hankyong, the largest financial and business news published in South Korea, Nixon bought 65.13 percent of Corbett's shares for $ 90 million, the company's estimate of more than 150 million

                            Why Did Nexon Purchase Korbit?

As of today, the daily trading volume of the South Korean exchange market is similar to the volume of major South Korean stock markets including Kusadak. For years, Corbett Korea led the Cryptocerne and Petequin exchange markets, receiving investment from venture capitalist billionaire Tim Draper and the largest telecommunications conglomerate in South Korea's Sk Telecom.

While Corbett is only the 16th largest currency exchange in the world, and beyond Pythumb, rival in terms of daily volume, Corbett has a strong brand strength within the South Korean kryptokernse exchange market. More than that, Corbett is still one of the leading cryptocernes trading platforms for some cryptocernes such as

In an interview with Hankyong, South Korea's Vinches adviser said the deal between Nixon and Corbett was unprecedented, and that the acquisition of Corbitt was likely to stimulate a growing number of investments and mergers in South Korea's Creptokernse.

Strengthening of the Japanese and South Korean Bitcoin Markets

South Korea's gaming and technology industries are familiar with Nixon because they have worked inside South Korea since its launch in 1994. The company initially started as a South Korean Games company with its headquarters in Seoul. As a result, the majority of gaming enthusiasts still look to this date Nixon as a South Korean company.

In fact, Nixon is a multibillion-dollar technology giant based in Japan and listed in the Japanese stock market. The holding company of Nixon is based in South Korea, which is known as NXC. And now, the holding company of the Japanese technology conglomerate is the parent company of the second largest currency exchange in South Korea's market cryptocerne in Corbett.

The large-scale conglomerates in South Korea including the SKT have made many investments in the cryptocernes sector and emerging emerging companies. However, the Japanese petrochemical industry has become significantly more active because of the involvement of genetically modified companies and Nixon and their major investments in the companies of Petcown.

Earlier this year, GMO, another multibillion-dollar technology and Internet company, announced the launch of Z Coin, a trading platform designed to target retail and institutional investors. On the launch of the Z Coin trading platform (coin.z.com), GMOs also announced plans to invest $ 30 million in the manufacture of ASEC miners and the creation of the Petachween mining centers in Europe.

"We expect to incur expenses for the establishment of a next-generation mining center, R & D and hardware manufacturing, including the next-generation mining chip, and we will not disclose the amount due to the NOC with our alliance partners, but will be more than 10% At 31 December 2016 (¥ 3,489 million).

The acquisition of Corbett by Nexon is likely to result in more deals and mergers in the Japanese Petcown Industries and South Korea's exchange market in the coming months.