igaming software supplier Playtech has confirmed the acquisition of Scottish social/casual games provider Yoyo Games for a deal estimated to be worth $16.4 million (£10.6 million). The acquisition of Yoyo games sees the leading igaming software supplier enter the burgeoning social games market.
Under the deal acquisition terms Playtech is set to offer 30% of the deal value under an escrow for a period of up to 36 months. An additional $5.3 million earn-out clause had been added to the acquisition deal, which will be triggered dependent on Yoyo Games performance under Playtech operations.
Yoyo Games specialises in creating multi-platform casual games through its open games development studio GameMaker which allows developers to create games using a single programming code.
To date Yoyo Games have been downloaded more than 5 million times on IOS, Android, Playstation and Xbox platforms.
Playtech said the acquisition forms part of its strategy to penetrate the casual games market.
In a statement the company added: “Playtech’s directors believe that the continued development of the GMS technology within the company will enable it to extend beyond the current games developers base, and will fit well with its in-house casual team, extending its expertise and know-how in the development of casual games, marketing systems and related infrastructure.
“This acquisition will enable the company to further diversify its business, benefiting from a combined B2B/B2C offering focused on a strong and growing segment of the wider gaming market.”
Yoyo Games GameMaker Open Studio