Israeli mobile games developer Playtika Holding Corp. (Nasdaq: PLTK) today announced it has entered into a definitive agreement to acquire Israeli mobile games studio Innplay Labs . Playtika will pay $80 million up front with a maximum consideration of $300 million.
Playtika CEO Robert Antikol said, "The acquisition of Innplay Labs, our second transaction this quarter, represents another strategic expansion of our portfolio with a promising and innovative growth franchise in the Luck Battle genre, and presents another opportunity for us to further utilize our expertise in leveraging LiveOps and proprietary technology to drive sustained, long-term growth. As a fellow Israeli-based company recognized for innovation, Innplay's talented team shares our culture of focus, speed and agility. We are excited to embark on this journey together and to rebrand Animals & Coins alongside Innplay."
Innplay Labs CEO Ore Gilron added, "In 2019, Innplay Labs formed with the goal of shaping the next generation of mobile gaming. Four years later, our robust team of talented high skilled game operators have put their passions together to create an outstanding game product with rich engaging content, providing our audience with a uniquely entertaining gaming experience. Looking ahead, we believe becoming a part of Playtika’s strong portfolio of Casual titles will take Innplay Labs to new heights."
"I couldn’t ask for a better outcome," said Eitan Reisel, founder of vgames, one of Innplay Labs’ largest investors. "My vision for vgames has always been to advance the thriving gaming ecosystem and this deal marks a significant milestone in this journey. This acquisition is a testament to Innplay's incredible talent, focus and rapid growth and I'm thrilled they are joining forces with Playtika, a powerhouse in our industry."
Published by Globes, Israel business news - en.globes.co.il - on September 15, 2023.
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