Playtika Holding Corp. (NASDAQ:PLTK), mobile gaming pioneer and interactive entertainment leader, and Azerion Group NV (EURONEXT: AZRN), one of Europe's largest digital advertising and entertainment platforms, announced that they have entered into a definitive agreement for Playtika to acquire the Youda Games game portfolio, including the title of social cards Governor of Poker 3, for an initial cash payment of 81,3 million euro, with an earnout based on the results of the acquired business which could bring the total consideration up to a maximum of 150 million euros, provided that the appropriate adjustments are made.
“The acquisition of Youda Games' card game portfolio, with its recognized intellectual property, is in line with Playtika's strategic approach of incremental growth, which is to leverage our unrivaled LiveOps experience and proprietary technology stack to optimize and scale games, strengthening our market position,” he said Craig Abrahams, President and Chief Financial Officer of Playtika -. We believe this acquisition will have a positive impact on 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 content portfolio through partners, and extending the presence and reach of our commercial teams in the marketplace,” he said. Sebastiaan Moesman, Chief Revenue Officer of the Azerion Group -. As a result of this dynamic shift to our digital advertising platform, social card games have become less strategic for Azerion, while remaining an attractive investment opportunity for an industry partner like Playtika. This sale will further simplify our business and help us continue to invest and deliver on our growth ambitions."
Completion of the transaction is currently expected by the end of the third quarter 2023, subject to customary closing conditions being met. Azerion will provide additional information on the transaction in conjunction with its second quarter and first half 2023 interim financial results.
