facebook
twitter
search
search

Japanese pay $115 million for Gravity

Sept. 1, 2005 at 1:45 PM

SEOL, South Korea, Sept. 1 (UPI) -- Japan's SoftBank company paid $115 million for control of South Korean electronic game company Gravity.

Gravity's chairman, Kim Jung-ryool, sold all of the 3.64 million shares, or 52.4 percent, he and his family owned to an investment affiliate of SoftBank, Chosun Ilbo reported Thursday.

The Japanese company offered to buy Gravity at the price that is three or four times higher than its current value, analysts said.

Related UPI Stories
Topics: Kim Jung
Latest Headlines
Trending Stories
Ted Cruz campaign pulls ad featuring softcore porn actress
Report: Clinton Foundation subpoenaed by State Dept. watchdog over charity projects
Ruby Rose, Gigi Hadid react to Kanye West's lyric about Taylor Swift
Kristen Wiig impersonates Peyton Manning on 'The Tonight Show'
NYC police officer found guilty of manslaughter in Brooklyn stairway shooting