Mobile games giant Playtika has struck a deal worth up to €150 million to acquire Azerion’s Youda Games portfolio of games, including social card themed title Governor of Poker 3.
The deal includes 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.”
Azerion Group’s Chief Revenue Officer, Sebastiaan Moesman, said: “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.
“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. This divestment will further simplify our business and help us to continue investing in and delivering on our growth ambitions.”
The transaction is expected to complete by the end of the third quarter of 2023.