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[kingfey]

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

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

www.videogameschronicle.com

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]

 

[Daytonabot]

I can't decide if this is better or worse than Tencent.

 

[Banjo64]

Get ready for the ‘SNK St James’s Park’ £100m stadium sponsorship.

 

[Vognerful]

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

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

www.videogameschronicle.com

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?

 

[tusharngf]

I can't decide if this is better or worse than Tencent.

can you say NO to BIN SALMAN.. i dont think so

 

[Banjo64]

Coming soon to a gaming console like you; ‘journalist torture simulator 2022’

 

[Mister Wolf]

He must have liked KOF15. Its a great game.

 

[KingHippo1967]

kingfey has now acquired almost all of VGC's articles (NeoGAF)

 

[Scotty W]

Coming soon to a gaming console like you; ‘journalist torture simulator 2022’

Joke removed

 

[Mr Moose]

How does this bide with "you can't buy japanese companies" crowd?

You can't buy (more than 1% of) protected Japanese companies, which includes Toyota, Sony, Mitsubishi, Hitachi.

 

[kingfey]

kingfey has now acquired almost all of VGC's articles (NeoGAF)

 

[SkylineRKR]

SNK being cancelled in 3, 2, 1...

 

[AJUMP23]

I hope he does something good with it.

 

[Jennings]

Going forward it would be safer for gaming journalists to not review SNK titles.

 

[SoggyBiscuit]

Guess that makes it easy to simply pass on future SNK games then?

 

[yurinka]

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.

 

[SidViscous]

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.

 

[sircaw]

Bo_Hazem STRIKES AGAIN

 

[DevilMayFlyForAWhiteGuy]

Muhammad guest character in KOF when?

 

[NoLootBoxDev]

Saudi Prince Mohammed bin Salman and contract killing. They forgot that part.

 

[sainraja]

Why do you all feel like everything needs to be owned/controlled by the West? If nothing foul is at play who cares.

 

[Werewolf Jones]

They were desperate for the bag. Can't blame them. Now make SNK VS Capcom 3.

 

[Azurro]

In other news, the next King of Fighters will include fatalities.

 

[//DEVIL//]

yet MS can't buy a single Japanese studio.. this dude buys the whole publisher.

 

[ManaByte]

Bo_Hazem STRIKES AGAIN

This is why he hasn’t had time for gaming lately.

 

[mitch1971]

His name sounds like a password to a hidden door.

 

[TLZ]

Bo_Hazem STRIKES AGAIN

 

[alabtrosMyster]

Coming soon to a gaming console like you; ‘journalist torture simulator 2022’

This or Disney, pick your poison, because we lost the moral standing a long time ago .

 

[Banjo64]

This or Disney, pick your poison, because we lost the moral standing a long time ago .

Exactly. That’s why I don’t consume anything except NeoGAF.

 

[Hosam6xavi]

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

 

[Heisenberg007]

Not many people know this here, but it's just Bo_Hazem buying all these companies, and MBS is acting as his frontman.

 

[ÆMNE22A!C]

This is so weird

 

[ÆMNE22A!C]

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?

 

[alabtrosMyster]

I love all women from this part of the world .

Now the money may give the wrong impression.

 

[Heisenberg007]

The guy who owns the rest of 4% shares.

 

[Boss Mog]

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.

 

[OmegaSupreme]

Gross.

 

[alabtrosMyster]

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]

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.

Lol wat

Been living under a rock for the last 5 years?

 

[ParaSeoul]

How does this bide with "you can't buy japanese companies" crowd?

SNK was mostly Chinese owned before.

 

[GymWolf]

 

[Kokoloko85]

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

 

[OmegaSupreme]

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

SNK was mostly Chinese owned.

 

[Kokoloko85]

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

Yeah lets hope they dont stick a hijab on Mai…

 

[Kokoloko85]

SNK was mostly Chinese owned.

China isn’t Japan brah, its still foriegn country

 

[OmegaSupreme]

China isn’t Japan brah, its still foriegn country

MS isn't buying Capcom brah. Move along.

 

[Nitty_Grimes]

Gross.

Net I think.

 

[Vognerful]

SNK was mostly Chinese owned.

Ok.

How did china get hold of japanese company?

 

[Kokoloko85]

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.