Nasdaq-listed free-to-play game developer and reward scheme specialist Playstudios has acquired casual game development studio Brainium for $70m in cash.
The acquisition also carries further contingent consideration tied to Brainium’s performance following the closing of the acquisition until the end of 2022.
Playstudios is the developer of free-to-play casino games and owner of the myVEGAS casual gaming brands. It also operates the playAWARDS game-based loyalty platform, which offers real-world rewards from brands to online players.Brainium is a well established publisher of casual mobile games based in Portland, Oregon. The developer offers 10 different game titles which have a collective reach of close to 5.5 million monthly active users and 2 million daily active users, Playstudios said.
The acquisition therefore adds a rich suite of popular casual games to its portfolio, including solitaire, sudoku and mahjong, and more than doubles the firm’s average daily active users, it added.
In turn, the deal is expected to enhance the reach and appeal of its playAWARDS platform to both players and rewards partners. The acquisition is also expected to be immediately accretive to the company’s earnings.Playstudios EVP of corporate and business development Jason Hahn: “The acquisition of Brainium checks all the boxes on our growth strategy: it’s accretive to earnings, it more than doubles our average daily active users, expands our portfolio of games in new genres, diversifies our revenue streams, and advances our playAWARDS platform position, all of which further establish our position as leaders in rewarded play.”
“The acquisition of Brainium brings a suite of thoughtfully designed and highly engaging casual games to Playstudios,” said Andrew Pascal, Playstudios’ founder and CEO.
Playstudios’ EVP of corporate and business development, Jason Hahn, added: “The acquisition of Brainium checks all the boxes on our growth strategy: it’s accretive to earnings, it more than doubles our average daily active users, expands our portfolio of games in new genres, diversifies our revenue streams, and advances our playAWARDS platform position, all of which further establish our position as leaders in rewarded play.”
Brainium COO Jason Willoughby concluded that: “Playstudios is the perfect home for Brainium as we enter this next phase of growth.
“We look forward to joining their talented team, leveraging their vast strategic resources, and offering the unique playAWARDS platform to Brainum’s loyal player base.”