Mobile games company Playtika completed an acquisition of Wooga, which specialises in casual games, as it looks to diversify into new genres.
While the value of the deal was not announced, sources told Bloomberg the figure is around $100 million.
“This combination will accelerate Wooga’s growth and further position Playtika as a serious competitor in the casual games arena” Playtika said in a statement. Wooga’s CEO and co-founder Jens Begemann will continue to lead his team of 180 employers from its Berlin headquarters.
Begemann said the deal was “a very natural fit for both parties: we have the expertise in creating and launching story-driven casual games, Playtika has the technologies to help us scale and reach new audiences to continue our growth.”
Playtika stated its expansion into new game genres started in October 2017 with its acquisition of another casual games company called Jelly Button Games, which has since generated 12-fold revenue growth.
Earlier this year, it launched an investment arm with plans to invest up to $400 million in Israel-based internet companies with proven business models and products.
Wooga, founded in 2009, had raised around $30 million, with backers including Highland Capital Partners and Balderton Capital. Its popular games include Diamond Dash and Bubble Island.Subscribe to our daily newsletter