KRAFTON Inc. announced that it will acquire 100% ownership of Eleventh Hour Games, the North American game studio behind the action RPG Last Epoch. Eleventh Hour Games was founded in 2018 by a group of developers united by a shared passion for the action RPG genre. Released officially in 2024, Last Epoch has sold over 3 million copies worldwide, gaining recognition for its intuitive yet deep skill system and highly polished content. Following its latest update, the title has achieved strong performance metrics in concurrent users and player engagement, establishing itself as one of the most prominent games in the global action RPG landscape.

With this acquisition, KRAFTON aims to secure a competitive franchise IP and further solidify its presence in global markets. Eleventh Hour Games is now positioned to lay the groundwork for long-term franchise growth, including expansion to console platforms and enhanced seasonal content operations. KRAFTON plans to provide comprehensive support across infrastructure, global publishing, and live services. The studio will continue to operate under its existing leadership even after the acquisition is finalized.

Judd Cobler, CEO of Eleventh Hour Games, expressed excitement about joining KRAFTON, stating that the partnership would allow the Last Epoch franchise to reach new heights thanks to KRAFTON’s strong understanding of the genre and its long-term strategic approach.

Hyeri Park, Head of Corporate Development at KRAFTON, noted that Eleventh Hour Games has built a global fanbase through its deep expertise in the action RPG genre and its community-driven development philosophy. She explained that KRAFTON highly values the studio’s development capabilities and intends to use this acquisition to diversify its genre portfolio and expand its franchise lineup. She added that the deal reflects KRAFTON’s continued passion for great games and the developers behind them, reaffirming its commitment to supporting studios that put players first.

Through the transaction, KRAFTON will acquire 100% of Eleventh Hour Games' shares for approximately $95.97 million USD (approximately KRW 132.4 billion), equivalent to 1.94% of KRAFTON’s total equity capital. Founded in December 2017, Eleventh Hour Games is a privately held company. As of the end of 2024, it reported total assets of KRW 26.87 billion, revenue of KRW 57.95 billion, and net income of KRW 8.59 billion.

The acquisition will be executed via a reverse merger: KRAFTON established a wholly owned subsidiary, Eterra Delaware, Inc., which will be merged into Eleventh Hour Games. Upon completion, Eterra Delaware will cease to exist, and Eleventh Hour Games will become a wholly owned subsidiary of KRAFTON. After the merger, KRAFTON will hold 1,000 shares in Eleventh Hour Games, representing 100% ownership. The board resolution date for the acquisition is July 24, 2025. KRAFTON also disclosed that, based on Eleventh Hour Games' future performance, it may pay up to an additional $60 million USD in earn-out payments through March 2033.