Israeli mobile games developer and publisher Playtika announced that they have entered into a definitive agreement with Azerion to acquire Youda Games’ portfolio of games. The deal includes the social card-themed title Governor of Poker 3 and Monopoly Poker for an initial cash consideration of €81.3 million, with an earnout based on the performance of the acquired business that could take the total consideration up to a maximum of €150 million, subject to customary adjustments.
“The acquisition of Youda Games’ card game portfolio, with its strong IP, is in line with Playtika’s strategic incremental growth approach of leveraging our unrivaled LiveOps expertise and proprietary technology stack to optimize and scale games, strengthening our market position,” said Craig Abrahams, President and Chief Financial Officer of Playtika. “We believe this acquisition will be accretive to our financial performance and is part of our strategy to acquire proven franchises where we can add value.”
“Over the past few years, we have transformed our business by scaling our digital advertising capabilities, developing our strategic portfolio of partner-led content, and extending the presence and reach of our in-market commercial teams,” said Azerion Group’s Chief Revenue Officer Sebastiaan Moesman. “As a result of this dynamic shift towards our digital advertising platform, social card games have become less strategic for Azerion whilst remaining an attractive investment opportunity for an industry partner such as Playtika.“
The transaction is currently expected to be completed by the end of the third quarter of 2023, subject to the satisfaction of customary closing conditions. Azerion will provide further information on the transaction alongside its interim financial results for Q2 and H1 2023.