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Thursday, February 13, 2014

Japanese online gaming firm Nexon's incoming CEO eyes U.S. acquisitions, (NASDAQ: EA)

Japanese online gaming firm Nexon Co Ltd will begin to aggressively explore U.S. acquisitions to further a long-standing plan to expand in Western markets, its CEO-elect Owen Mahoney said."We continue to believe that North America is a big, big opportunity for us," Mahoney said in an interview with Reuters late on Wednesday ahead of the company's announcement that he would succeed current Chief Executive Officer Seungwoo Choi in March.Mahoney, currently Nexon's chief financial officer, led mergers and acquisitions and business development at Electronic Arts Inc for about a decade before joining Nexon, which is known for free-to-play PC games like combat title "Dungeon&Fighter" and "MapleStory."He said Nexon would be open to using its cash balance to acquire games that would help it build a strong footprint in the West.

Electronic Arts Inc. develops, markets, publishes and distributes game software content and services that can be played by consumers on a variety of video game machines and electronic devices. Shares of EA fell by 1.24% or $-0.345/share to $27.52. In the past year, the shares have traded as low as $16.65 and as high as $28.13. On average, 6033640 shares of EA exchange hands on a given day and today's volume is recorded at 1889611.