PUBG owner Krafton acquires Neon Giant

South Korean holding company Krafton has acquired Neon Giant, the developer of The Ascent.

The acquisition: It's growing its portfolio and roster of games at a decent speed.

• The news came from Krafton's Q3 earnings release which was published on November 11.
• As well as announcing the acquisition of Neon Giant, it revealed that it generated $328.5M in revenues with a net profit of $171.5M.
• Elsewhere, the holding company is looking to launch a major studio in Canada that will be the main development hub for The Bird That Drinks Tears, its title that's based on a series of fantasy novels.

The company: It has a bunch of defunct subsidiaries.

• Krafton was formed in November 2018 to serve as the parent company for Bluehole and other subsidiaries. It's best known for its hit title PUBG.
• The Swedish studio it has acquired is working on an open-world FPS having released its cyberpunk action RPG The Ascent in July 2021.
• Other companies in Krafton's portfolio include 5minlab, Bluehole Studio, Dreamotion, PUBG Studios, RisingWings, Striking Distance Studios, Thingsflow, and Unknown Worlds.