Austrian-based media outlet Koch Media has announced the acquisition of German developer Fishlabs and all of its assets.

These assets include the popular mobile franchise Galaxy on Fire, and Fishlabs' proprietary Abyss game engine.

Koch Media's announcement is a firm follow-up to Friday's breaking story where we reported that Fishlabs sold up to "an unnamed party".

Now we can confirm that Koch Media - founded by entrepreneurs Franz Koch and Dr. Klemens Kundratitz in 1994 - is that party.

'Strategically important'

Koch Media noted that all 52 Fishlabs employees are now part of the Koch Media Group, and added that the Hamburg headquarters of Fishlabs would be maintained as before.

Speaking on the acquisition, managing director Dr. Kundratitz was open in discussing Koch's entry into mobile gaming.

"The mobile gaming market is strategically important to Koch Media. 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."

For Fishlabs, the Koch acquisition follows a tempestuous autumn which saw layoffs in October and bleak ruminations on the difficulty in acquiring investment capital.