Starbreeze partners with KRAFTON to expand PAYDAY into PUBG: Battlegrounds
Starbreeze announced this morning a strategic partnership with KRAFTON Inc, a large South Korean gaming developer and holding company, to bring the PAYDAY franchise’s heisting gameplay experience into the well-known multiplayer game PUBG. The collaboration operates under a work-for-hire agreement, engaging approx. 25% of Starbreeze’s development team over the next year. Starbreeze retains full ownership of PAYDAY’s IP.
This agreement not only provides Starbreeze with direct compensation for its development services but also allows the company to optimize its workforce while minimizing financial risk through secured funding. Furthermore, the partnership offers significant exposure to PUBG’s massive player base, strategically positioning PAYDAY to reach new audiences and broaden its global presence.
The collaboration aligns with Starbreeze’s long-term strategy to expand PAYDAY’s market footprint and diversify its project portfolio. Although further updates are expected closer to the launch, we view the deal as a good fit for Starbreeze and will update our forecasts accordingly in the near future.
Starbreeze
Starbreeze is a developer, creator, publisher, and distributor of games for PC and console, targeting the global market. With the IP PAYDAY™ as a core, Starbreeze develops games based on proprietary and third-party rights, both in-house and in partnership with external game developers. Starbreeze utilizes a ’Games as a Service’-modell, with continuous releases of add-ons and updatates to their games. The majority of operations are in Europe. The company’s headquarters is in Stockholm.
Read more on company pageKey Estimate Figures15.11
2023 | 24e | 25e | |
---|---|---|---|
Revenue | 633.5 | 182.6 | 139.3 |
growth-% | 396.47 % | -71.17 % | -23.73 % |
EBIT (adj.) | 190.3 | -226.7 | -72.6 |
EBIT-% (adj.) | 30.04 % | -124.15 % | -52.16 % |
EPS (adj.) | 0.19 | -0.16 | -0.05 |
Dividend | 0.00 | 0.00 | 0.00 |
Dividend % | |||
P/E (adj.) | 2.48 | - | - |
EV/EBITDA | 0.79 | 0.84 | 7.12 |