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Galaxy on Fire developer Fishlabs purchased by Koch Media

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German mobile developer Fishlabs, the studio behind space sim series Galaxy on Fire, has been purchased by entertainment enterprise Koch Media, the company announced today.

Earlier today, PocketGamer reported Fishlabs, which filed for chapter 11 bankruptcy in October, was purchased by an unnamed buyer. German news outlets Gamesmarket and Newsslash reported the unnamed buyer as Koch Media. Koch managing director Dr. Klemens Kundratitz later confirmed the purchase in a statement sent to Polygon.

"The mobile gaming market is strategically important to Koch Media," Kundratitz said in the statement. "These days, games are played anytime and anywhere — both at home and on the go. The know-how and brands which Fishlabs brings along give us the expertise required in order to establish ourselves in this exciting field for the long term."

The statement also confirmed all 52 remaining Fishlabs employees and the studio's Hamburg site will be retained.

Co-founder Michael Schade told PocketGamer that the sale is an "asset deal," which confirms that "all employees will be transferred to the buyer automatically." PocketGamer also reports Schade and fellow co-founder Christian Lohr will leave the company and noted that Fishlabs as is stands now — which the two founded together in 2004 — will no longer be its own entity.

"The entity Fishlabs Entertainment GmbH will be terminated," Schade said.

This is not the first major studio purchase Germany-based Koch has made in the past year. In January, during the liquidation auction for now-defunct publisher THQ and its remaining assets, Koch's bid offers of $22.3 million for Saints Row developer Volition, Inc. and $5.8 million for 4A Games' Metro franchise were accepted. The company published both Saints Row 4 and Metro: Last Light earlier this year.

Fishlabs most recent game, mobile massively multiplayer online title Galaxy on Fire: Alliances, launched on the iTunes App Store last week.