Electronic Gaming Development Company has acquired 96% of SNK Corporation

gamepur.com:

After acquiring thirty-three percent of the Japanese video game company SNK Corporation back in November of 2020, Electronic Gaming Development Company now owns 96.18% of the company. This report comes from SNK’s official site which hosts a Results of Tender Offer detailing the purchase of shares.

The offer was made to the company on December 17 of last year. While we don’t know when the deal was agreed upon, the settlement was finalized on February 15.

SNK Corporation is most recently known for developing the fighting games The King of Fighters XV as well as Samurai Showdown. There is a controversy that lies behind their primary shareholder however, as the company is directly funded by Saudia Arabian crown prince Mohammed bin Salman. Salman is notably known for causing the assassination of Jamal Khashoggi who, at the time, was a Saudi Arabian journalist for the Washington Post.

The Japanese company appears to have decided against making a statement regarding the acquisition as the news is just now coming to light. This isn’t the only developer that Salman has invested in. In February earlier this year, EGDC purchased at least 5% of both Capcom and Nexon while Saudi Arabia’s Public Investment Fund, of which Salman is the chairman, put billion-dollar investments into Electronic Arts, Take-Two Interactive, and Activision-Blizzard.