Playtika acquiring Israeli gaming studio Innplay Labs for $80 million
Playtika acquiring Israeli gaming studio Innplay Labs for $80 million
The deal could mushroom to as much as $300 million. “We believe becoming a part of Playtika’s strong portfolio of Casual titles will take Innplay Labs to new heights,” said Innplay CEO Ore Gilron
Israeli gaming giant Playtika announced on Friday that it has agreed to acquire Innplay Labs, a mobile gaming studio based in Israel, for $80 million. The deal could mushroom to as much as $300 million.
Innplay Labs, founded by CEO Ore Gilron and CTO Oshri Bienhaker, specializes in arcade and puzzle animation mobile games. Among the company's games are the Water Ride, Brix Master, and Animal Kingdom. Its investors include vgames and Fusion LA.
“In 2019, Innplay Labs formed with the goal of shaping the next generation of mobile gaming. Four years later, our robust team of talented high skilled game operators have put their passions together to create an outstanding game product with rich engaging content, providing our audience with a uniquely entertaining gaming experience,” said Ore Gilron, CEO of Innplay Labs. “Looking ahead, we believe becoming a part of Playtika’s strong portfolio of Casual titles will take Innplay Labs to new heights.”
"The acquisition of Innplay Labs, our second transaction this quarter, represents another strategic expansion of our portfolio with a promising and innovative growth franchise in the Luck Battle genre, and presents another opportunity for us to further utilize our expertise in leveraging LiveOps and proprietary technology to drive sustained, long-term growth," said Robert Antokol, CEO of Playtika. “As a fellow Israeli-based company recognized for innovation, Innplay's talented team shares our culture of focus, speed and agility. We are excited to embark on this journey together and to rebrand Animals & Coins alongside Innplay.”
"I couldn’t ask for a better outcome,” said Eitan Reisel, founder of vgames, one of Innplay Labs’ largest investors. “My vision for vgames has always been to advance the thriving gaming ecosystem and this deal marks a significant milestone in this journey. This acquisition is a testament to Innplay's incredible talent, focus and rapid growth and I'm thrilled they are joining forces with Playtika, a powerhouse in our industry.”
Last December, Playtika announced that it was laying off 610 employees, accounting for 15% of its workforce. Playtika shut down its Israeli studio Jelly Button as part of the layoffs.
