Krafton to acquire Japan's ADK Group for W710b
Korean game developer eyes intellectual property expansion amid growing content market
Krafton has decided to invest about 710.3 billion won ($521.3 million) to acquire Japan's ADK Group as the Korean game developer looks to expand its presence in the global content industry.
According to Krafton, its board of directors on Tuesday approved the takeover of BCJ-31 -- a holding company under Bain Capital Japan and the parent company of ADK Holdings -- which owns major affiliates of ADK Group such as ADK Market Solutions, ADK Creative One and AKD Emotions.
Considered one of the three most influential advertising agencies in Japan, ADK Group has taken part in producing over 300 animation products. ADK Group's annual transaction volume reached $2.4 billion as of last year, according to Krafton.
The takeover of the Japanese company came as the Korean game developer has been searching for chances to expand its game-centered intellectual properties.
'Based on a deep understanding of the Japanese content industry, ADK is a partner with great expertise and capabilities that covers animation planning and production, advertising and marketing, and media operation,' said Kim Chang-han, CEO of Krafton.
'Through cooperation with ADK, Krafton will continue to explore various common grounds between game and animation and combine each company's strengths to try to create new opportunities in the global content industry together.'
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