To further develop its mobile game segment, Krafton recently purchased 5minlab – a Korean game studio, to expand its business.
Korean game PUBG: Battlegrounds owner Krafton announced that it has purchased game developer 5minlab.
Shares of the Korean-based studio were acquired for the amount of 20 million USD. Krafton said that with the acquisition, it intends to expand its mobile game business.
Krafton acquired 5minlab.
In terms of game revenue, PUBG made $334 million throughout 2021. While PUBG Mobile generated $1.18 billion in consumer spending during the year.
In addition to its finances, the gaming company has shared details about its upcoming portfolio of titles.
Unknown Worlds’ Project M is due out early in 2022, while Striking Distance Studios’ The Callisto Protocol is slated to launch this year.
5minlabs was founded in 2013 and has gone on to develop titles like Smash Legends, Como in Adventure, and Brickscape.
“In addition to being a typical Korean game company that has achieved a global identity, Krafton’s commitment to consolidating its technology and enhancing its game development capabilities remains warranted.” 5minlab CEO, Moon-hyoung Park, said.
The company is famous for the game PUBG.
“We believe 5minlab’s technology and global operating experience will help Krafton strengthen its competitive edge. We look forward to creating exciting things for the gaming community together,” he emphasized.
Recently, Krafton recorded the highest increase in revenue and profit from games in its development history thanks to PUBG and related games. Accordingly, Krafton announced financial results reporting a 13% increase in revenue year-on-year to $1.57 billion in 2021. The Korean game maker’s net profit fell 6.5% to 434.8 million USD compared to last year.
In the future, Krafton also creates its own metaverse with various types of entertainment to serve the needs of gamers.
