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Playtika has agreed to acquire Innplay Labs, a mobile game studio in Israel, for an upfront fee of $80 million and as much as $300 million.
The deal is the second acquisition of the quarter for Herzliya, Israel-based Playtika Holding, a publicly traded company. At the end of July, Playtika also bought Youda Games for up to $165 million. That deal had the same structure, where there was an upfront purchase price and then it had a bonus paid if the acquired firm hits its financial targets.
Playtika sees the acquisition of Innplay Labs as an opportunity to expand its presence in the Luck Battle genre and tap into the studio’s expertise in creating captivating gaming experiences. By leveraging its LiveOps capabilities and proprietary technology, Playtika aims to drive sustained, long-term growth for Innplay’s games. industry.
Robert Antokol, CEO of Playtika, said in a statement, “The acquisition of Innplay Labs represents another strategic expansion of our portfolio with a promising and innovative growth franchise. We are confident that combining our expertise with Innplay’s talented team will result in exceptional gaming experiences for our players.”
Innplay Labs, founded in 2019, has established itself with Animals & Coins.
“Innplay Labs formed with the goal of shaping the next generation of mobile gaming,” said Ore Gilron, CEO of Innplay Labs, in a statement. “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.”
Eitan Reisel, founder of Vgames said he was pleased with the outcome.
“I couldn’t ask for a better outcome,” said Reisel, one of Innplay Labs’ largest investors, in a statement. “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.”
The proposed acquisition is subject to customary closing conditions. Upon completion, Playtika plans to rebrand Animals & Coins alongside Innplay Labs.