Business
PLAYSTUDIOS Acquires Mobile Casual Game Studio Brainium, Adding a Rich Suite of Popular Games to the Company’s Portfolio
The acquisition is accretive to earnings and aligns with PLAYSTUDIOS’ vision to diversify its game portfolio and bring playAWARDS to a significantly larger
About this update from Playstudios, Inc.
[{"type":"text","content":"\nThe acquisition is accretive to earnings and aligns with PLAYSTUDIOS’ vision to diversify its game portfolio and bring playAWARDS to a significantly larger audience, further demonstrating the value of the company’s unique rewarded-play model.\n\n LAS VEGAS--(BUSINESS WIRE)--\nPLAYSTUDIOS, Inc. (NASDAQ: MYPS) (“PLAYSTUDIOS” or the “Company”), the creator of the playAWARDS loyalty platform and an award-winning developer of free-to-play mobile and social games that offer real-world rewards to players, today announced the acquisition of Brainium, a long-standing publisher of casual games. The acquisition consists of $70 million in upfront cash with contingent consideration tied to the performance of Brainium for the period from the closing of the acquisition through December 31, 2022. The acquisition adds a rich suite of popular casual games, such as Solitaire, Spider Solitaire, Sudoku, and Mahjong, to PLAYSTUDIOS’ best-in-class game portfolio, and more than doubles the company’s average daily active users, enhancing the reach and appeal of its playAWARDS platform to players and rewards partners.\n\n“The acquisition of Brainium brings a suite of thoughtfully designed and highly engaging casual games to PLAYSTUDIOS. It also further diversifies our business by complementing our largely in-app-purchase (IAP) based revenue model with a meaningful amount of advertising revenue,” said Andrew Pascal, founder and CEO of PLAYSTUDIOS. “We look forward to welcoming the Brainium team and working together to fully leverage our combined strengths in order to put real-world rewards in the hands of significantly more players.”\n\n“The acquisition of Brainium checks all the boxes on our growth strategy: it’s accretive to earnings, it more than doubles our average daily active users, expands our portfolio of games in new genres, diversifies our revenue streams, and advances our playAWARDS platform position, all of which further establish our position as leaders in rewarded play,” added Jason Hahn, EVP of Corporate and Business Development of PLAYSTUDIOS.\n\nBrainium, a passionate, Portland-based team of creative game designers and engineers, will retain its brand name and leadership team as part of PLAYSTUDIOS. Founded in 2008, Brainium has a long-standing reputation for elegant and inspiring game development and for bringing apps to market that ha...