Sectors | Fri Jun 8, 2012 1:18pm IST

Nexon to buy 14.7 pct stake in NCsoft for $687mln

TOKYO, June 8 (Reuters) - Japanese online game provider Nexon Co said on Friday it will buy a stake in South Korea's NCsoft Corp for 804,522,750,000 Korean won ($686.8 million).

It will take a 14.7 percent stake in the developer and publisher of online games.

Nexon aims to strengthen business opportunities by taking the stake in the gaming powerhouse, which has offices in Korea, Japan, China, Southeast Asia, Britain and the United States. ($1 = 1171.4500 Korean won) (Reporting by Miki Kayaoka; Editing by Michael Watson)