Animoca Brands has agreed to acquire nWay, the developer and publisher of Power Rangers: Legacy Wars, for $7.69 million.

nWay is a game developer and publisher of triple-A games on console, PC, and mobile platforms. It also created a platform that enables crossplay for real-time multiplayer games across multiple platforms. Power Rangers: Legacy Wars has more than 50 million downloads, and it’s a free-to-play game.

The deal is subject to shareholder approval, execution of a formal agreement, satisfactory completion of due diligence, and the obtaining of any necessary regulatory approvals.

Above: Taehoon Kim

Headed by Taehoon Kim, the San Francisco-based nWay has a team of developers and executives who have worked at major technology companies, such as Google, Tencent, Sony, Electronic Arts, Nintendo, LucasArts, Blizzard, Kabam, Nexon, and NCSoft. Current management will continue to operate nWay.

nWay has developed and published three games: Power Rangers: Battle for the Grid, the popular tag-team fighting game with crossplay functionality on Nintendo Switch, Xbox One and PC; Power Rangers: Legacy Wars, the award-winning mobile fighting game on iOS and Android; and ChronoBlade, nWay’s original mobile action role-playing game.

The company has a global license (with some territories excluded for some products) granted by Lionsgate and Hasbro to develop and publish Power Rangers games. The license is subject to renewal.

nWay has also recently announced nWayPlay, a platform in development that provides developers with complete backend and fully managed live-ops services to develop and operate competitive multiplayer cross-platform games. nWayPlay’s platform features include crossplay and cross-progression functionality, low-latency real-time multiplayer framework, live-ops tools, and geo-distributed hosting with custom matchmaking logic that ensures optimal networked gaming experience with scalability and stability.

And nWayPlay also provides what it says is a unified player identify and friends system, which enables players to log-in, connect and play together with friends across different platforms such as consoles, PC, and mobile. nWayPlay aims to dramatically reduce barriers to entry for the development of multiplayer online games, and empower a new generation of developers to create competitive multiplayer games. nWayPlay is available for alpha partners and is expected to launch in 2020.

Register for GamesBeat's upcoming event: Driving Game Growth & Into the Metaverse