Playtika Completes Acquisition of Innplay Labs, Strengthening its Mobile Gaming Portfolio
Playtika, a leading mobile game developer, has officially closed its acquisition of Innplay Labs, the developer behind the popular Animals and Coins game. The acquisition, which was valued at up to $300 million, demonstrates Playtika’s commitment to expanding its presence in the luck battle genre.
This strategic acquisition is Playtika’s second of the quarter, following its purchase of Azerion’s Youda Games portfolio in August. By acquiring Innplay Labs, Playtika aims to enhance its capabilities and drive the continued growth of its mobile gaming portfolio.
Regarding the acquisition, Playtika President and CFO Craig Abrahams said, “This acquisition of Innplay Labs strengthens our position as a mobile games leader and is a testament to our commitment to investing in Israel as a global technology and innovation hub.”
The Success of Israel’s Gaming Market
Israel’s gaming market has been thriving, with a value of $9 billion in September 2022. The mobile platform has emerged as the most popular platform for gamers in Israel. In particular, social and casual games have a competitive advantage in the Israeli market, and 74% of mobile developers focus on these genres.
Playtika is recognized as one of Israel’s largest game makers; however, the company has faced some challenges this year, including a suspension of new game development after a rocky Q4 2022. Additionally, talks of acquiring Rovio for $737.5 million fell through. Despite these setbacks, Playtika is bouncing back, with a recent publishing deal for its subsidiary Wooga’s game Ghost Detective with Netflix. These positive developments have boosted investor confidence in Playtika’s prospects, despite its lackluster financial performance.
Discover more about Playtika and its achievements in the mobile gaming industry here.