Mobile publisher Playtika makes its first purchase since entering the stock exchange. He announced an agreement with the Finnish studio Reworks, which developed a simulator of the designer Redecor. The maximum amount of the transaction may approach $600 million.
Redecor
According to the terms of the deal, 80% of Reworks will now come under the control of the publisher.
Playtika will pay the studio $400 million in cash for them. The company will buy the remaining 20% in 2023. If by this time Reworks reaches the required indicators, then Playtika will transfer her another $ 200 million. And if he does not reach it, he will give only $1.
As Robert Antokol, CEO of Playtika, noted in an interview with Bloomberg, over the past six months, the company has considered 40 options for purchase until it settled on Reworks. With the help of Finnish developers, the publisher wants to diversify its portfolio, which consists mostly of social casinos.
Playtika has plans for Redecor, the debut game of the Reworks studio. In it, the gamer tries on the role of an interior designer and chooses the design for different rooms. The company is going to use the platform underlying this project to develop games that will be related to fashion, cars or, for example, restaurants.
At the moment, the purchase of Reworks is the most expensive in the history of Playtika. But the publisher does not deny that later he may decide on more large-scale acquisitions.
“We talk to everyone. Everyone knows us,” said Antokol. “We have the money to make even bigger deals.”
Recall that in January, Playtika held the largest IPO among Israeli companies. During it, the publisher raised $ 1.88 billion, part of which he is going to spend, including on transactions. In total, Playtika has $1.4 billion in cash in reserve for future investments and acquisitions.