Krafton, the South Korean company behind PUBG: Battlegrounds, has announced it’s buying The Ascent developer Neon Giant.

Krafton made the announcement in its latest earnings report, saying the acquisition was part of an ongoing investment in its “development and service capabilities [that would] ensure a steady pipeline of premium titles”.

Although Neon Giant only has one title to its name so far – last year’s cyberpunk action-RPG The Ascent – the Swedish studio was founded by industry veterans with credits on the likes of Doom, Wolfenstein, Gears of War, and Far Cry 3.

Neon Giant is yet to formally announce its next project, which will now be released under Krafton, but it’s described as an open-world FPS.

Krafton’s purchase will see Neon Giant joining fellow acquitisions including Subnautica developer Unknown Worlds and Striking Distance Studios.

Unknown Worlds is currently working on its intriguing turn-based tactics game Moonbreaker, while Striking Distance is poised to release the highly anticipated sci-fi horror The Callisto Protocol on 2nd December.