N3twork launched the current Tetris mobile app which has accumulated approximately 30 million downloads since its launch in early 2020.
Playstudios will continue to operate and update the current global Tetris mobile products, excluding China, which is operated by Changyou.
Furthermore, Playstudios is developing a new iteration of the title that will "draw inspiration" from casual games, with new features and mechanics that will "usher in a new era for Tetris on mobile".
This new version of Tetris will incorporate Playstudios’ loyalty programme, PlayAwards, which allows users to redeem points earned in-game at real-world casino locations.
A new era
"For nearly 40 years, Tetris has appealed to a broad, multi-generational audience," said Playstudios founder, chairman, and CEO Andrew Pascal.
"Breaking into the puzzle genre with a storied brand like Tetris fits our strategy perfectly. It affords us the opportunity to integrate an iconic game into our PlayAwards loyalty program and drive meaningful growth."
Tetris president and CEO Maya Rogers added: "Playstudios’ expertise in developing and operating compelling and beautifully executed games on top of their unique loyalty marketing platform make them an ideal partner to create a richer, more engaging experience for our loyal Tetris fans, old and new. We’re confident that Playstudios will be a wonderful steward of our brand."
Earlier this month, Playstudios was one of several investors to raise $725 million for blockchain gaming platform Forte.