Deal well done: Davis Polk advises on the purchase of a game development studio
In a significant move for the action role-playing game (ARPG) industry, global video game publisher KRAFTON has acquired Eleventh Hour Games, the studio behind the widely recognized ARPG title, Last Epoch. The acquisition, which took place in 2025, is set to bolster KRAFTON's ARPG portfolio and secure the long-term future growth of Eleventh Hour Games.
Eleventh Hour Games was established in 2018 by a circle of ARPG enthusiasts who met through Reddit. The studio's commitment to the ARPG community and innovative approach to game development resonated strongly with KRAFTON's values, according to Maria Park, KRAFTON's head of corporate development.
KRAFTON, founded in 2018 as a holding company for Bluehole Studios, has a history of acquiring video game development studios, including Dreamotion, Striking Distance Studios, and Unknown Worlds. The acquisition of Eleventh Hour Games is expected to facilitate the scaling of the studio across console platforms and bolster its live service capabilities.
Last Epoch, Eleventh Hour Games' flagship title, was released in 2024 and has sold over three million copies globally. The specific game or franchise created by the group of ARPG players who founded the studio was not specified in the text.
The acquisition amount for Eleventh Hour Games includes an initial consideration of USD 96 million. Global law firm Davis Polk & Wardwell advised KRAFTON on the acquisition. Judd Cobler, CEO of Eleventh Hour Games, commented on the acquisition, expressing excitement about the alignment of KRAFTON's passion for ARPGs with Eleventh Hour Games' mission.
The acquisition reaffirms KRAFTON's unwavering passion for great games and the teams that build them, as they always stand behind developers who put players first. The publicly available information about the acquisition does not specify the key advisors involved in the deal, beyond the advisory team from Davis Polk & Wardwell.
As Eleventh Hour Games embarks on this new chapter with KRAFTON, fans of Last Epoch and the ARPG genre can look forward to exciting developments in the future.
Technology and gadgets might be incorporated in the future developments of Eleventh Hour Games, given KRAFTON's history of acquiring studios known for innovative game development and its commitment to enhancing live service capabilities. The unspecified game or franchise created by the ARPG enthusiasts who founded Eleventh Hour Games could potentially integrate advanced gaming technology to offer an immersive player experience.
