Take-Two Interactive has entered an agreement to acquire mobile games studio Playdots.
The deal is worth $192 million; $90 million will be paid in cash while the remaining $102 million will be supplied in Take-Two common stock.
Playdots was founded in 2013 and is based in New York City. It currently has a team of around 70 with Nir Efrat serving as CEO, a role he has held since 2018. The developer is best known for Dots, Two Dots, and Dots & Co, which have accumulated 100 million installs collectively. Two Dots alone is responsible for over 80 million downloads in the six years since its launch.
Strong mobile offerings
"Our acquisition of Playdots will diversify and strengthen further Take-Two's mobile game offerings, particularly within the casual, free-to-play segment," said Take-Two independent publishing and head of strategy vice president Michael Worosz.
"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.
"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."
Earlier this year, 2K's parent company revealed that it has 21 games that are "planned specifically" for mobile. So far this year, the company has performed well as its recorded revenues of $831.3 million in Q1 FY2021, an increase of 54 per cent year-on-year.