France-based mobile games publisher Voodoo finalised a deal to acquire Israeli gaming studio Beach Bum to boost its play in the casual sector.
In a statement, Voodoo described the takeover as an important step towards portfolio diversification, which aligned with a goal to increase its non-advertising gains.
Financial details were not disclosed, though Israeli newspaper Globes reported the sum at between $250 million and $300 million.
Beach Bum was founded in 2015, providing mobile versions of traditional board and card games. Its monthly active users (MAUs) currently total more than 2 million and its gross revenue was approximately $70 million in the past year, Voodoo stated.
Alexandre Yazdi, CEO of Voodoo, argued the companies shared the same “business philosophy” and ambition to create a global “leading and inspiring” mobile gaming company, with the tie-up a “major step” towards this goal.
Co-founder and active chairman of Beach Bum, Gigi Levy-Weiss argued the deal forms a market “superpower”.
Voodoo has launched more than 100 mobile games since its creation in 2013: it claims MAUs of more than 300 million.
The casual gaming sector is the subject of a number of recent deals, including a $400 million takeover of design entertainment app Redecor by Playtika, an acquisition of a puzzle title by Huuuge Games and a recent injection of funds for AviaGames.Subscribe to our daily newsletter Back