Krafton Acquires Controlling Stake in Nautilus Mobile for $14M

Krafton, the South Korean gaming powerhouse behind PUBG: Battlegrounds and Battlegrounds Mobile India (BGMI), has finalized an all-cash deal to acquire a controlling stake in the Indian studio Nautilus Mobile. The transaction, valued at $14 million, grants the publisher majority ownership of the 12-year-old developer.

The deal, which is expected to close by the end of the month, secures Krafton a stake of over 75% in the Pune-based firm. Despite the change in majority ownership, Nautilus will retain its operational independence, with all 45 current staff members remaining with the company.

Strategic Shift Beyond Battle Royale

For Krafton, the acquisition is a calculated step to diversify its footprint in the Indian market. While BGMI has achieved massive popularity—surpassing 200 million downloads and driving significant revenue—the company has struggled to replicate that level of dominance with other titles like Bullet Echo India or Road to Valor.

Sean Hyunil Sohn, CEO of Krafton India, noted that their previous minority investment in Nautilus in 2022 felt restrictive. “We found its role as a minority stakeholder limiting in terms of supporting the studio’s content development,” Sohn explained. By taking control, Krafton intends to deepen its collaboration with the studio to enhance existing titles and explore new genres.

Capitalizing on Cricket’s Popularity

Nautilus is best known for the Real Cricket franchise, which includes titles such as Real Cricket 24. Given India’s massive appetite for cricket, the studio provides Krafton with a specialized entry point into sports gaming.

• Market Potential: India’s mobile gaming revenue is projected to climb from $640 million in 2023 to $1.1 billion by 2028.
• Global Ambitions: Krafton and Nautilus intend to scale these cricket titles beyond India into other cricket-playing nations.
• Investor Continuity: JetSynthesys, which acquired Nautilus in 2020, will remain a significant minority shareholder and continue supporting esports initiatives.

Nihansh Bhat, corporate lead development at Krafton India, emphasized that the collaboration is not limited to the domestic market. “We want to work with Nautilus to make the best effort possible to really realize the potential of this market, not just in India, but in other cricket-playing nations,” he said.

This move follows a broader trend of investment by Krafton, which has injected over $200 million into the Indian ecosystem, including stakes in platforms like Cashfree and Kuku FM, as well as gaming-focused funds like Lumikai. Nautilus will now join Krafton’s global network of 14 operating game studios.