Krafton, creator of PUBG: Battlegrounds, recently announced that it has acquired South Korea-based game developer 5minlab.
Krafton said it acquired 100 percent of the South Korea-based studio’s shares through an earn-out payment of $19.9 million.
“Based on how 5minlab has taken on bold challenges and grown significantly since its founding in 2013, KRAFTON believes we share many of the same goals and aspirations when it comes to game development,” said CH Kim, CEO of KRAFTON, Inc. “Through this acquisition, KRAFTON secures an independent studio with outstanding developers who possess excellent technical skills. With our support, we only hope to embolden 5minlab’s ability to create exciting new titles.”
Founded in 2013, 5minlab is best known for Smash Legends, the globally popular PvP action game available on iOS, Android and Steam. The studio’s other titles include Brickscape, Express Thru, and Como in Adventure.
“In addition to being a representative Korean game company that has achieved global success, KRAFTON’s commitment to strengthening its technology and growing its game-development capabilities remains intact,” said Moon-hyoung Park, CEO of 5minlab. “We believe that 5minlab’s global operation experience and technology will help KRAFTON solidify its competitive edge. We look forward to seeing the incredible experiences we’ll create together.”