Swedish media corporation The Modern Times Group (MTG) has announced another takeover. She was joined by PlaySimple, a mobile developer from India, known for word games Word Jam and Word Wars. The transaction amount was $359.6 million.
Word Wars
MTG will pay $276.9 million of the total amount in cash, and transfer the rest of the money in Class B shares.
PlaySimple will also be able to count on an additional $149.8 million if it reaches the necessary financial indicators.
The deal will allow MTG to strengthen its position in the casual games segment and open access to the genre of word games. In addition, she expects to increase the proportion of female gamers among her audience and attract more Indian developers to her projects.
PlaySimple opened in 2014. During this time, the studio has released nine games, including Word Jam, Word Wars and Daily Themed Crossword. In 2021, she plans to publish four more tiles. To date, the company’s games have collected a total of 75 million downloads, its total MAU is kept at 7 million.
PlaySimple is showing good growth. Last year, its net revenue reached $83 million, an increase of 144% compared to 2019.
Note that this is the third purchase of MTG in the last year. Last December, Hutch Games, specializing in racing, joined the media corporation, and in March – Ninja Kiwi, known for the tower defense franchise Bloons.