Las Vegas-based games developer Playstudios has announced its acquisition of casual mobile games creator Brainium. The acquisition boasts $70 million cash upfront and is contingent on Brainium’s performance up until December 31st, 2022 when the deal is set to close.
The acquisition will add a variety of popular casual games such as Solitaire, Spider Solitaire, Sudoku and Mahjong to Playstudios game portfolio. Playstudios stated that this will more than double its daily active user base, enhancing the reach and appeal of its playAWARDS loyalty platform.
Combined strengths
Andrew Pascal, founder and CEO of Playstudios commented on the acquisition saying “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. 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”.
Jason Hahn, EVP of corporate and business development at Playstudios, commented stating that “The acquisition of Brainium checks all the boxes on our growth strategy”.
Portland-based Brainium will retain its brand name and leadership team as part of Playstudios. The casual mobile game developer currently offers 10 titles, which collectively reach nearly 5.5 million monthly active users.
Scott Willoughby, chief operating officer at Brainium Studios, also spoke on the acquisition saying “Playstudios is the perfect home for Brainium as we enter this next phase of growth” Willoughby added, “We look forward to joining their talented team, leveraging their vast strategic resources, and offering the unique playAWARDS platform to Brainum’s loyal player base”.
We recently covered Microsoft launching a pro-merger website to support its bid to acquire Activision Blizzard.
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