Krafton has acquired a controlling stake in the Indian gaming studio Nautilus Mobile for $14 million, a strategic move aimed at diversifying its portfolio beyond the battle royale hit Battlegrounds Mobile India (BGMI).
Beyond BGMI: Diversifying the Portfolio
Krafton reported a massive 119.3% year-over-year growth in net profit last year, totaling approximately $889 million. While the company views India as a vital market, its success has been heavily reliant on BGMI, which surpassed 200 million downloads last year. Despite releasing titles like Bullet Echo India, Road to Valor, and CookieRun, Krafton has yet to replicate the massive scale of its PUBG-localized flagship.
Deepening Ties with Nautilus Mobile
The relationship between the two companies began in 2020, when JetSynthesys acquired a 100% stake in Nautilus, followed by Krafton’s own strategic $5.4 million investment in 2022. Krafton CEO Sean Hyunil Sohn noted that being a minority stakeholder was limiting, and this new control allows for deeper integration and hands-on development.
The Cricket Strategy
Krafton is betting big on the popularity of cricket. “We strongly believe that cricket games have a lot of potential,” said Nihansh Bhat, corporate lead development at Krafton India. The goal is to scale the studio’s output globally, not just in India. JetSynthesys will maintain a significant minority stake and continue collaborating on esports initiatives, including partnerships with major teams from the Indian Premier League, as seen in the Real Cricket mobile game.
Investment Outlook in India
With this acquisition, Krafton’s total investment in India surpasses $200 million. The company has diversified its portfolio across gaming-adjacent sectors, including payments platform Cashfree, audio platform Kuku FM, and influencer marketing firm One Impression. Furthermore, Krafton has backed investment funds such as Lumikai. Nautilus Mobile will now join Krafton’s global network of 14 operating game studios.
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