Playtika Holding Corp. (NASDAQ: PLTK) were flat Monday, as the mobile gaming entertainment and technology market leader with a portfolio of top casual titles, today announced execution of an agreement for a $25-million minority investment in Turkish mobile gaming company Ace Games. Ace is the developer of Fiona’s Farm, a free-to-play innovative casual mobile game that expertly and uniquely combines the mechanics of Match-3, farming, decoration, and narrative-driven games into one immersive mobile gaming experience for players.
Ace was founded in 2020 by its Chief Executive Officer, Hakan Bas, co-founder of Peak Games, the developer of Toy Blast and Toon Blast (sold for $1.8 billion). It is led by an experienced and talented team of industry veterans from companies like Dream Games and Playrix, and the team has a proven track record in the mobile casual gaming space.
“Our investment in Ace Games is an important milestone in the execution of our new games investment strategy as Playtika continues to seek exposure to high-growth potential game IP in cost-effective ways,” said CEO Robert Antokol. “The talented team at Ace has built a best-in-class and innovative product on the ‘Match-3 and Meta’ game model. Playtika can greatly complement Ace with our LiveOps and Digital Studio capabilities, leveraging our enhanced monetization and game operations leadership in mobile gaming.”
PLTK shares cleared breakeven one cent to $9.47.
