AMSTERDAM, NETHERLANDS. – Feb. 14, 2022 – KRAFTON, Inc., creators of the PUBG: BATTLEGROUNDS battle royale video game, recently announced it acquired 5minlab, the South Korea-based game developer known for Smash Legends, the globally popular PvP action game available on iOS, Android and Steam. This acquisition supports KRAFTON’s goal of strengthening its game-related capabilities.
KRAFTON acquired 100 percent of 5minlab’s shares through an earn-out payment of $19.9 million USD. 5minlab was founded in 2013 and has proven experience developing and servicing cross-platform games like Smash Legends as well as Como in Adventure, Brickscape and Express Thru.
“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.”
“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.”
For the latest information on KRAFTON inc, please visit https://www.krafton.com/. Assets and further press releases can be found on the official KRAFTON inc. press room.
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About KRAFTON, Inc.
KRAFTON, Inc. is a collective of independent game development studios brought together to create innovative and engaging entertainment experiences for gamers across the world. The company consists of PUBG Studios, Bluehole Studio, Striking Distance Studios, RisingWings, Dreamotion, and Unknown Worlds, each with its own unique expertise.
KRAFTON is responsible for premier entertainment properties including PUBG: BATTLEGROUNDS, NEW STATE MOBILE, The Callisto Protocol, TERA, and ELYON. As a technology-driven company that boasts world-class capabilities, KRAFTON seeks to expand its areas of business beyond games to multimedia entertainment and deep learning. For more information about KRAFTON, please visit https://www.krafton.com/.