Electronic Gaming Development Company acquires 5% stake in Capcom!

Electronic Gaming Development Company (EGDC), a Saudi Arabian investment company, recently acquired a 5% stake in Capcom (the developer of the Resident Evil series ).

In recent years, Saudi Arabian investment firms have shown increasing interest in the gaming industry. One prime example of this is the potential acquisition of EA by the Saudi Public Investment Funds (PIF).

According to information from GameBiz (via Automaton), EGDC recently acquired a 5.03% stake in Capcom by purchasing 26,788,500 shares. Through this transaction, the company aims to profit from the growth in share price or dividends.

Mohammed Bin Salman, the Crown Prince of Saudi Arabia, is the owner of EGDC through the MiSK Foundation.

In addition, the company also owns 100% of the shares of SNK – the developer of the Fatal Fury and King of Fighters series .

Notably, this is not the first time Capcom has received investment from Saudi Arabia. According to Arab News, PIF spent $1.2 billion to acquire a 5% stake in Capcom and Nexon Co. in 2022.

Last month, there were numerous reports that Savvy Group – another company also from Saudi Arabia – might spend $7 billion to acquire Moonton from ByteDance in order to take over the Mobile Legends: Bang Bang brand .