Social gaming company Playtika has announced the acquisition of mobile game developer Innplay Labs for up to $300 million. [Image: Shutterstock.com]
The incentives are there
Social gaming company Playtika has revealed that it has acquired mobile gaming studio Innplay Labs for up to $300 million. The initial payment will be $80 million, with several provisions potentially bringing the final amount to $300 million.
Playtika’s stock price rose 2% the day after the announcement.
The press release did not reveal any of these specific goals or their corresponding monetary values. The deal will need to obtain relevant regulatory approvals in order to proceed. Playtika’s stock price rose 2% the day after the announcement.
Playtika wallet enhancement
Innplay Labs was founded in 2019 and has released a number of popular mobile games since then. Playtika CEO Robert Antokol said this The goal of this deal It is to assist in the strategic expansion of its portfolio. He stated that it is an opportunity to develop Playtika’s expertise “in leveraging live operations and proprietary technology to drive long-term sustainable growth.” Antokol believes the Innplay squad shares the same culture of speed, agility and focus.
Some of the most popular games at Innplay Labs include Animal Kingdom, Lucky Tiles, and Water Ride.
One of the main focuses will be to improve Playtika’s presence in the battle of luck genre, as well as achieving long-term growth. This will include rebranding the popular Animals & Coins brand. Innplay CEO Ore Gilron believes that coming under the Playtika umbrella will allow it to reach new heights.
Lots of activity
Playtika has made a lot of moves so far in 2023. It announced in August that it was purchasing the Youda Games portfolio from Azerion for about $89.4 million, which could rise to $165 million if the company hits certain financial goals.
Playtika was one of the first companies to start offering free games across social media and mobile platforms.
It also unsuccessfully tried to acquire Angry Birds creator Rovio Entertainment earlier this year. Sega Sammy Holdings eventually completed the acquisition of Rovio in August for $776 million.
Playtika announced in March that it had temporarily suspended the creation of new games due to some issues in the mobile market. Management explained that the decision came in the wake of a difficult marketing period which meant that the company would not be able to properly scale the titles to make a profit.
