Mobile gaming provider Playtika Holding has entered into a definitive agreement with European digital advertising and entertainment media platform Azerion Group to acquire the Youda Games portfolio of games. The offering includes titles like the social card-themed game “Governor of Poker 3.”
The deal is worth an initial cash consideration of $89 million (EUR 81.3 million), with the possibility of the total consideration reaching up to $164.3 million (EUR 150 million), subject to customary adjustments and based on the performance of the acquired business.
Craig Abrahams, President and Chief Financial Officer of Playtika, said: “The acquisition of Youda Games’ card game portfolio, with its strong IP, is in line with Playtika’s strategic incremental growth approach of leveraging our unrivaled LiveOps expertise and proprietary technology stack to optimize and scale games, strengthening our market position.”
Abrahams added that the move aligns with Playtika’s strategy of acquiring “proven franchises” that can add value to its offerings. By leveraging its expertise and technology, Playtika aims to enhance the gaming experience and further strengthen its market presence.
Azerion Group’s Chief Revenue Officer, Sebastiaan Moesman, explained the rationale behind the divestment: “Over the past few years, we have transformed our business by scaling our digital advertising capabilities, developing our strategic portfolio of partner-led content and extending the presence and reach of our in-market commercial teams”
“As a result of this dynamic shift towards our digital advertising platform, social card games have become less strategic for Azerion, whilst remaining an attractive investment opportunity for an industry partner such as Playtika.”
According to the executive, the divestment will further simplify the business and help Azerion to continue investing in and delivering on growth ambitions.
The acquisition is expected to be completed by the end of the third quarter of 2023, subject to customary closing conditions. Azerion said it will provide further information about the transaction along with its interim financial results for Q2 and H1 2023.
Playtika, known for its social gaming expertise, had earlier this year attempted to acquire Rovio Entertainment, the company behind the popular Angry Birds series, but the deal did not materialize.
Despite facing some challenges and announcing a decline in revenue in the first quarter of this year, Playtika remains focused on achieving its full-year guidance. The company is set to announce its Q2 results on August 8.
Original article: https://www.yogonet.com/international/noticias/2023/08/03/68166-playtika-to-acquire-youda-games-portfolio-from-azerion-for-up-to-164-million
