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Korean Valve Bid?

"Will Asian online game publishers Nexon and NCsoft buy blockbuster publisher Valve?" asks VentureBeat in an article based on a rumor in a "major" Korean publication. Joongang News reports Nexon and Valve met in Hawaii yesterday to discuss a possible merger. Nexon was also involved in acquisition rumors earlier this year when reports emerged it was bidding on EA. Valve's Gabe Newell has expressed no interest in selling the company when previous such rumors have emerged, but neither company has commented on this report yet.

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19. Re: Korean Valve Bid? Sep 27, 2012, 15:06 Cutter
 
Creston wrote on Sep 27, 2012, 14:48:
Does anyone know what the actual ownership picture is at Valve? Is it just Gabe and a few other guys that own everything, or have they allowed their long-time employees to get part ownership? Does Valve even HAVE shares?

creston

Valve Stuff

According to that Gabe owns over half of Valve, but I couldn't find any mention anywhere else of who owns what because they're private. They have zero need to sell - and probably even less desire to do so. If anything this sort of announcement is usually a ploy to give the purchasing corps some attention and a little stock bounce - by whom is another matter but I'm sure their shares probably saw a small flurry of trading today.
 
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18. Re: Korean Valve Bid? Sep 27, 2012, 14:48 Creston
 
Beamer wrote on Sep 27, 2012, 14:13:
Gadzooks wrote on Sep 27, 2012, 13:45:
On one hand, selling would probably let a few suits walk away with a LOT of cash

On the other hand, the handful of people who had a role in the decision would be directly responsible for destroying the digital game sales industry as a whole.


Given that it's Valve, I'd assume that mostly everyone would walk away with a LOT of cash.

Does anyone know what the actual ownership picture is at Valve? Is it just Gabe and a few other guys that own everything, or have they allowed their long-time employees to get part ownership? Does Valve even HAVE shares?

creston
 
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17. Re: Korean Valve Bid? Sep 27, 2012, 14:36 Dev
 
NewMaxx wrote on Sep 27, 2012, 13:26:
No, what he said was, he would let the company die before being sold to "some giant company that wants to cash us out and wait two or three years to have our employment agreements terminate." That is carefully worded to allow for many things, such as mergers on his terms. It's an important distinction to be made, although I still do an "lolwut" in reaction to this particular news tidbit.
And even in that quote you can tell his obsession with his employees health. Which is why it will never happen.
 
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16. Re: Korean Valve Bid? Sep 27, 2012, 14:13 Beamer
 
Gadzooks wrote on Sep 27, 2012, 13:45:
On one hand, selling would probably let a few suits walk away with a LOT of cash

On the other hand, the handful of people who had a role in the decision would be directly responsible for destroying the digital game sales industry as a whole.


Given that it's Valve, I'd assume that mostly everyone would walk away with a LOT of cash.
 
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15. Re: Korean Valve Bid? Sep 27, 2012, 13:53 jacobvandy
 
NCSoft... LOL. They can dream, though!  
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14. Re: Korean Valve Bid? Sep 27, 2012, 13:45 Gadzooks
 
On one hand, selling would probably let a few suits walk away with a LOT of cash

On the other hand, the handful of people who had a role in the decision would be directly responsible for destroying the digital game sales industry as a whole.

 
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13. Re: Korean Valve Bid? Sep 27, 2012, 13:26 NewMaxx
 
deqer wrote on Sep 27, 2012, 10:42:
He already said he has NO INTEREST in selling the company.

No, what he said was, he would let the company die before being sold to "some giant company that wants to cash us out and wait two or three years to have our employment agreements terminate." That is carefully worded to allow for many things, such as mergers on his terms. It's an important distinction to be made, although I still do an "lolwut" in reaction to this particular news tidbit.
 
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12. Re: Korean Valve Bid? Sep 27, 2012, 13:10 Matshock
 
I'd get on a video conference call and loudly proclaim- "I'll sell it for *dramatic pause* a bajillion quillion dollars!" with my pinky next to my mouth.

+1 not gonna happen
 
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11. Re: Korean Valve Bid? Sep 27, 2012, 13:02 Warskull
 
Beamer wrote on Sep 27, 2012, 11:47:
Even thinking beyond this, why do private companies get acquired?
1) The owners want out (retire, start something new, etc.)
2) The owners want to cash out while the price is high (I think this is part of why Epic sold - it gives the aging owners liquidity they really haven't had over it's 20someodd years)
3) They need capital and need it badly

Well, we don't think Gabe is going anywhere, so 1 is out. He's already independently wealthy and probably drawing a huge salary, so I would guess 2 is out. And they are stupidly profitable, so 3 is out.

We don't even need to speculate on why they'd choose this particular company - there's no real need for them to sell at all.

Your first reason probably be the reason why Valve eventually does get sold. Not any time soon mind you.

The other thing, is if you are buying Valve you are basically buying it for the Steam platform and the IPs. Anything the company once was will immediately crumble to dust the second some corporation takes over and tries to run it. Gabe himself even said he suspects the employees would quickly scatter to the winds the second the company was sold.
 
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10. Re: Korean Valve Bid? Sep 27, 2012, 12:33 Dev
 
Remember this very important thing:

Gabe is obsessed with employee health. (his word not mine)


Would selling the company affect employee health in a negative way? Yes.

So it won't happen. End of story. No other factors matter (post #7 has other reasons why this won't happen)

Valve could still buyout other companies, but so far they've shown no desire to do so, and I don't think they'd start with this one.
 
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9. Re: Korean Valve Bid? Sep 27, 2012, 12:25 El Pit
 
jdwohlever wrote on Sep 27, 2012, 10:34:
I hope to God this never happens. Steam is perfect the way it is. We don't need some money hungry foreign company coming in and destroying what Valve has done. Leave Steam alone.

There. Fixed it for you. The stupid hungry wolves from Wall Street ain't better than their Korean counterparts.
 
Consoles? I owned two: a Pong clone and an Atari 2600. And that's it.
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8. Re: Korean Valve Bid? Sep 27, 2012, 12:23 El Pit
 
Just say "NO!", Gabe. Just say no.  
Consoles? I owned two: a Pong clone and an Atari 2600. And that's it.
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7. Re: Korean Valve Bid? Sep 27, 2012, 11:47 Beamer
 
Creston wrote on Sep 27, 2012, 10:56:
jdwohlever wrote on Sep 27, 2012, 10:34:
I hope to God this never happens. Steam is perfect the way it is. We don't need some money hungry foreign company coming in and destroying what Valve has done. Leave Steam alone.

Isn't Steam a separate entity? They may just be talking about merging Valve with Nexon, and then splitting Steam off entirely.

But I fail to see why Valve, with its completely untraditional no-managers set-up, would merge with a Korean publisher, which is 100% purely manager driven. It's like saying that Chrysler is interested in merging with the Home Depot. It makes no sense whatsoever.

Creston

Synergy!



Even thinking beyond this, why do private companies get acquired?
1) The owners want out (retire, start something new, etc.)
2) The owners want to cash out while the price is high (I think this is part of why Epic sold - it gives the aging owners liquidity they really haven't had over it's 20someodd years)
3) They need capital and need it badly

Well, we don't think Gabe is going anywhere, so 1 is out. He's already independently wealthy and probably drawing a huge salary, so I would guess 2 is out. And they are stupidly profitable, so 3 is out.

We don't even need to speculate on why they'd choose this particular company - there's no real need for them to sell at all.
 
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6. Re: Korean Valve Bid? Sep 27, 2012, 11:43 Bet
 
Creston wrote on Sep 27, 2012, 10:56:
But I fail to see why Valve, with its completely untraditional no-managers set-up, would merge with a Korean publisher, which is 100% purely manager driven. It's like saying that Chrysler is interested in merging with the Home Depot. It makes no sense whatsoever.
Aside from money causing everything to appear to make perfect, logical sense in the proper quantity in any situation, that's pretty a good analogy.

Fortunately this sounds more like culture biased reporting.
 
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5. Re: Korean Valve Bid? Sep 27, 2012, 10:56 Creston
 
jdwohlever wrote on Sep 27, 2012, 10:34:
I hope to God this never happens. Steam is perfect the way it is. We don't need some money hungry foreign company coming in and destroying what Valve has done. Leave Steam alone.

Isn't Steam a separate entity? They may just be talking about merging Valve with Nexon, and then splitting Steam off entirely.

But I fail to see why Valve, with its completely untraditional no-managers set-up, would merge with a Korean publisher, which is 100% purely manager driven. It's like saying that Chrysler is interested in merging with the Home Depot. It makes no sense whatsoever.

Creston
 
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4. Re: Korean Valve Bid? Sep 27, 2012, 10:42 deqer
 
"but neither company has commented on this report yet."

Who cares what the comments will be. He already said he has NO INTEREST in selling the company.

Derp.
 
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3. Re: Korean Valve Bid? Sep 27, 2012, 10:34 jdwohlever
 
I hope to God this never happens. Steam is perfect the way it is. We don't need some money hungry foreign company coming in and destroying what Valve has done. Leave Steam alone.
 
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2. Re: Korean Valve Bid? Sep 27, 2012, 10:33 J
 
Popcorn  
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1. Re: Korean Valve Bid? Sep 27, 2012, 10:31 Yakubs
 
Why would Gabe sell the company? It's a fucking cash cow and he runs the thing independently (as far as we know).  
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