Krafton believes in a tailored approach to M&A

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Michael Metzger, partner of Drake Star Partners, sat down with Damien Lee from Crafton at the Gamesbeat Summit 2022. They discuss the company’s IPO, M&A (merger and acquisition) and what’s next. For this article, however, we are going to focus on the Crafton strategy for acquisition.

Following the success of Player’s Unknown Battleground, Bluehole Studios formed Crafton as a holding company. In 2021, Kraft held an IPO that earned the company 3.8 billion. With these new funds available, Crafton Studios went out to acquire. One of the latest acquisitions is the Unknown World.

“The Unknown World is an extraordinary team,” Lee said. “They have been around for over 20 years. They are a very tight team that has created Subnotica, which is well-loved and a huge success. They were financially stable, so they didn’t need to invest, and they were worried that someone would be acquired. ‘Are there interruptions in our creative process? Will anyone come in and try to get people out on the first day? ‘”

How do you persuade a company to sell in that situation? Lee believes you need to adapt each approach to the team in question.

“We took a long time to understand what they were looking for,” Lee continued. “One of the things we can be sure of is that the executive producers of Crafton’s independent studios have a lot of power. It is one of the most creative friendly atmosphere of any game studio with subsidiaries. This goes exactly to the top. Our CEO did not come from a business background, he was the executive producer of PUBG. “

Crafton’s approach seems to work. Unknown Worlds is set to release a new IP this summer, with Subnautica 3 also on the horizon. For more of this interview please check out the GamesBeat Summit 2022.

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