Krafton acquires 5minlab
Publisher purchases Smash Legends developer with the aim to expand its mobile business operations
Today PUBG: Battlegrounds owner, Krafton announced that it has purchased game developer 5minlab.
The South Korea-based studio's shares were acquired for an earn-out payment in the amount of $20 million.
Krafton said that with the purchase it intends to expand its mobile business operations.
5minlabs was founded in 2013 and has go on to develop titles such as Smash Legends, Como in Adventure, and Brickscape.
"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 5minlab CEO Moon-hyoung Park.
"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."