Daybreak Game Company, the game dev studio behind the early MMO EverQuest and more recent forays into online play like Z1 Battle Royale, is set to be acquired by Enad Global 7 (EG7).
The deal will see EG7 scooping up 100 percent of the shares in Daybreak for a total of $300 million in both cash and EG7 shares.
“Daybreak Games has an incredible legacy, an impressive portfolio of game franchises and the most incredible community of players," reads a statement from Daybreak CEO Ji Ham.
"Combined with EG7, we are better positioned to expand on those amazing IPs, grow its development teams and player communities and fund exciting future games."
On EG7's part, the company says the Daybreak purchase will bolster EG7's game portfolio of games and properties while also bring strong development, operations, and strategy teams from Daybreak into the fold.
This is also the second major acquisition the company has announced this week, following yesterday's news that it is set to acquire MechWarrior dev Piranha Games for $24.2 million.