Gaming software and services supplier Playtech has struck a deal to acquire cross-platform casual games specialist Yoyo Games for a consideration of $16.4 million (€14.4 million).
Under the agreement, 30% of the consideration will be held in escrow for up to 36 months after closing in order to provide security in respect of claims.
In addition, an earn-out consideration and a retention plan is expected to add a further $5.3 million to the aggregate cost.
Headquartered in Dundee, Scotland, Yoyo Games is the creator of Game Maker: Studio (GMS), a mobile driven cross-platform casual games development technology that allows developers to create games using a single programming code and publish them to run natively across most common platforms.
More than 750,000 registered games developers currently use the GMS platform on a freemium basis with chargeable add-ons.
Playtech said the acquisition forms part of its strategy to penetrate the casual games market.
In a statement the company added: “Playtech’s directors believe that the continued development of the GMS technology within the company will enable it to extend beyond the current games developers base, and will fit well with its in-house casual team, extending its expertise and know-how in the development of casual games, marketing systems and related infrastructure.
“This acquisition will enable the company to further diversify its business, benefiting from a combined B2B/B2C offering focused on a strong and growing segment of the wider gaming market.”
source : www.igamingbusiness.com
