Walden gets happy returns from Korean games
Walden International has sold a 13% stake in its portfolio company Ndoors Corporation, a South Korean game software developer/publisher, to Nexon Corporation, a major strategic peer in the sector.
Nexon picked up a total 54% stake in Ndoors from major shareholders. Headquartered in Seoul, Ndoors develops and publishes MMORPGs - Massively Multiplayer Online Role-Playing Games - through its regional operations, including Japan, China, the US and Germany. The company sold a partial stake to Walden in 2005. Hock-Voon Loo, Walden MD and former non-executive director of Ndoors, said that the firm is extremely happy with the returns it received from the gaming sector and in Korea.
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