Playtika Holding enters agreement to acquire the Youda Games portfolio from Azerion
Playtika Holding Corp., a mobile games pioneer and interactive entertainment player, and Azerion Group N.V. one of Europe’s largest digital advertising and entertainment media platforms, have announced they have entered into a definitive agreement for Playtika to acquire from Azerion its Youda Games portfolio of games, including social card themed title Governor of Poker 3, for an initial cash consideration of EUR 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 EUR 150 million, subject to customary adjustments.
Craig Abrahams, President and Chief Financial Officer, Playtika: “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. 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.”
Sebastiaan Moesman, Chief Revenue Officer, Azerion Group: “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 currently expected to complete by the end of the third quarter 2023 subject to the satisfaction of customary closing conditions. Azerion will provide further information relating to the transaction alongside its interim financial results for Q2 and H1 2023.
