Social gaming provider Playtika has purchased a minority stake in Turkish mobile gaming business Ace Games for $25m (£21m/€24m).
Ace Games was founded in 2020 by chief executive Hakan Bas, who also co-founded Peak Games, the developer of the Toy Blast and Toon Blast titles.
Content within the Ace Games portfolio includes casual mobile games Fiona’s Farm and Match-3.
Playtika chief executive Robert Antokol said the investment was an “important milestone” for the business and would support its ongoing growth and expansion strategy.
“The talented team at Ace has built a best-in-class and innovative product on the ‘Match-3 and Meta’ game model,” Antokol said. “Playtika can greatly complement Ace with our LiveOps and Digital Studio capabilities, leveraging our enhanced monetisation and game operations leadership in mobile gaming.”
Ace Games CEO Bas added: “Playtika has an unrivalled reputation for delivering superior in-game experiences, scaling mobile games to global dominance in their respective categories.
“We are excited to be teaming up with Playtika as an investor and partner that will help us continue to grow this title, and possibly others, into leading mobile game franchises.”
The investment comes after Playtika earlier this month posted revenue of $647.8m in the third quarter of the year, up by 1.9% compared to Q3 2021.
Speaking at the time, Antokol said that the results reflected Playtika’s position in the market and bolstered its future plans.