Swedish gaming major acquires India’s PlaySimple for at least $360m

Details:

• The Indian developer will get 77% of the acquisition amount in cash, while the remaining amount will be paid via company shares. There’s also a reward worth US$150 million if PlaySimple hits specific metrics, which the companies did not disclose.
• PlaySimple said it will expand into the European market and invest in technology to create new games.

Context:

• The announcement comes after PlaySimple’s revenue jumped 144% year on year to US$83 million in 2020. It’s also set to generate over US$60 million in revenues in the first half of 2021.
• PlaySimple, which currently offers word games, has gained a total of over 75 million installs and is planning to develop card games next.