Playtika buys Israeli mobile games studio Innplay Labs
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 CEO Robert Antikol said, “The acquisition of Innplay Labs, our second transaction this quarter, represents another strategic expansion of our portfolio with a promising and innovative growth franchise in the Luck Battle genre, and presents another opportunity for us to further utilize our expertise in leveraging LiveOps and proprietary technology to drive sustained, long-term growth. As a fellow Israeli-based company recognized for innovation, Innplay’s talented team shares our culture of focus, speed and agility. We are excited to embark on this journey together and to rebrand Animals & Coins alongside Innplay.”
Innplay Labs CEO Ore Gilron added, “In 2019, Innplay Labs formed with the goal of shaping the next generation of mobile gaming. 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.”