Take-Two Acquires Mobile Studio Playdots In $192 Million Deal
The studio behind the popular Two Dots game will be used to further diversify Take-Two’s mobile business in the free-to-play games sector.
Take-Two Interactive has acquired mobile studio Playdots in a $192 million deal. The developer behind mobile games such as Dots, Two Dots, and Dots & Co., Playdots has accumulated over 100 million downloads combined from its games.
The studio, which is currently helmed by King's former head of franchises, Nir Efrat, will be used to "diversify and strengthen" Take-Two's mobile game projects within the casual and free-to-play mobile market.
"Two Dots continues to grow its audience and under the leadership of Nir, the addition of scavenger hunts, social leader boards and live-ops technology are enhancing the game and driving meaningful, long-term consumer engagement," said Michael Worosz, EVP and head of strategy and independent publishing for Take-Two, in a press statement. "We are very pleased to welcome Nir and the entire team at Playdots to the Take-Two family and are excited by the potential of their development pipeline and positive, long-term contributions to our business."
The deal saw Playdots obtained for $90 million in cash and $102 million worth of Take-Two shares. Take-Two has recently experienced one of its strongest quarters, as the company made over $831.3 million for its fiscal first quarter thanks to games such as GTA Online, NBA 2K20, Red Dead Online, and Borderlands 3.
The largest fiscal Q1 period that the company has ever had, microtransactions increased by a staggering 52 percent during the financial quarter and totaled $482,153,999.
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