Playtica acquires the Finnish company Reworks for about $ 600 million

The gaming company Mobile Playtica has announced the acquisition of the Finnish Home Design company Reworks for about $ 600 million. Through the acquisition, the company is expected to leverage the field of live-ops, game design and the boost technology platform. This is the company's eighth acquisition in the field of mobile and IP since its establishment in 2010.
The acquisition will be made in two stages, with the company initially purchasing approximately 80% of the acquisition, in the amount of $ 400 million. In the second phase, the company will acquire the remaining 20%, up to approximately $ 200 million based on the company's EBITDA throughout 2022, as defined by the acquisition agreement. one.
Robert Antcol, founder, CEO and chairman of Playtica, commented on the acquisition: "The home design market continues to expand into digital channels. Now with the acquisition of Reworks Oy, it is a real opportunity to establish Playtica's position in the home design market as well.
The acquired company provides an experience for all design enthusiasts and we intend to take advantage of our expertise in gaming, live-ops and technology to bring the field to new heights. "The acquisition promotes Playtica's growth strategy while providing it with a large and involved community of design enthusiasts, and is also characterized by a demographic similar to the existing user base that Playtica is well acquainted with."
According to a study by Playtica, Home Design accounts for 12% of total e-commerce sales in the US, and is one of the most popular categories on Pinterest and features more than 100 million Instagram posts related to interior design and appeals to an audience similar to Playtica's.
Recently Playtica reported results for the second quarter of the year, the company missed the earnings forecast in the market when it presented in the second quarter reports of 2021 earnings of $ 0.22 per share, compared to analysts' expectations for a figure of $ 0.23 per share. The top line beat expectations with revenue at $ 659.2 million against the consensus forecast of $ 642.07 million. The stock is down in early trading by about 2%.