Krafton plans to acquire Neon Giant, the makers of The Ascent, and open a new studio in Canada.
Krafton , the South Korean company behind PUBG: Battlegrounds, The Callisto Protocol, Moonbreaker and Tera, has announced the acquisition of Neon Giant , the Swedish development studio behind The Ascent .
The company revealed it during the last meeting with shareholders for the closing of the third quarter of the fiscal year, without however sharing details on the terms of the agreement and the monetary investment necessary to conclude the operation.
Neon Giant is a studio born in 2018 by veteran developers who have worked on the likes of Bulletstorm, Far Cry 3, Gears of War, Wolfenstein and Doom. In 2020 he launched The Ascent, an action shooter RPG set in a cyberpunk world. Neon Giant is currently working on a new game, which will be an open world first person shooter.
Krafton also plans to start a large studio in Canada , which will lead the development of The Bird That Drinks Tears , a game based on the Korean fantasy-style novel series of the same name (where elves, magic and dragons are replaced from other fantastic elements of local folklore, such as dokkaebi ed.) by Lee Yaeongdo, presented in September with a trailer.
We also learn from Krafton’s report that the company reported revenues of $328.5 million and profits of $171.5 million in Q3 , up 27% year-on-year. These positive results according to the company come from PUBG: Battlegrounds and its growth in recent months after the transition to the free-to-play formula.