[word games that pay real money]Modern Times Group Buys Indian Word Games Developer PlaySimple for Up to $510.7 Mln

2021-08-21 01:14:24

  ”PlaySimple is a rapidly growing and highly profitable games studio that quickly has established itself as one of the leading global developers of free-to-play word games, an exciting new genre for MTG,” said MTG Chief Executive Maria Redin.

  ”An experienced management team and focused, data-driven operating model has allowed PlaySimple to develop multiple game hits especially popular with the growing global audience of female gamers,” she added.

  MTG will pay SEK3.09 billion up front and up to a further SEK1.29 billion in performance-based earnout payments.

  The up-front consideration will comprise 77% in cash and 23% in newly-issued MTG class B shares and the earnout will be paid in cash.

  PlaySimple posted revenue of SEK706 million in 2020 with adjusted earnings before interest, tax, depreciation and amortization of SEK154 million.

  Write to Dominic Chopping at dominic.chopping@wsj.com