Playtika Confirms Wooga Acquisition Deal
Neither party has confirmed the exact purchase price, but news has broken that Playtika has acquired the Berlin-based social games development company Wooga for a reported $100 million. Wooga, which was founded by one Jens Begemann in 2009, has in the last decade played an instrumental role in the rise of the social gaming industry, which is now valued at an estimated $70 billion.
Wooga has over the years created a niche market for itself. Casual storyline-based games revolve around the premise of solving puzzles and hunting for hidden objects in order to progress through the plot. Two of the games, June’s Journey and Pearl’s Peril, enjoy a cult following of players.
Slotomania The Starting Point
Playtika, on the other hand, is an Israeli company and was started by Robert Antokol and Uri Shahak. It is better known as the company that brought us Slotomania. After the Slotomania success the brand was bought by casino giant Caesars Interactive, and the company was valued at $150 million.
Interestingly enough, despite having been developed back in 2011, Slotomania is still a top earner, raking in more than $20 million every month. Games analysis firm Eilers & Krejcik Gaming confirmed this information.
Preparing For An Evolution
Playtika recently released an official press statement as a means of commenting on the deal. According to Antokol, the acquisition of Wooga firmly positions the company for the next stage of its social games evolution. He said that the possibilities in the sector were literally endless and that Playtika’s live operations expertise, advanced AI technology and marketing-driven performance would act as the perfect launch pad for Wooga’s award-winning storylines.
The entire Wooga structure has been brought over into the fold, including all of its human resources. The press statement emphasises that this was part of the agreement from the onset, as it’s the humans behind the technology who drive the stories forward.
When Two Giants Meet
Playtika is no small fish either. The company holds a 28.6% share in the social casino games market. According to analysts, its reported revenue for the third quarter of the current year came to $372 million.
Once the acquisition deal has been finalised, more than half of Playtika’s titles will be social casino-based games. Considering how the company has boomed up until now, he sky is the limit for the combined entity, going forward.