Swedish gaming company Modern Times Group (MTG) has announced its acquisition of leading Indian word games developer PlaySimple. MTG has acquired a 100% stake in PlaySimple for a whopping $360 million. A couple of months ago, MTG acquired Hutch and video game developer Ninja Kiwi and now with PlaySimple, they are increasing their influence in the gaming sector even further.
“The acquisition of PlaySimple marks an important next step in the build-up of a diversified gaming vertical with high-quality gaming companies and is in line with MTG’s strategy to drive value creation through organic growth and strategic M&A,” the company said in its release. Through this acquisition, MTG will gain access to the massive mobile gaming audience of the country.
We’ve just now announced the acquisition of PlaySimple, a leader in the word games genre globally and one of the most exciting Indian-born game developers of late.
Read the full press release here:https://t.co/0OmtvEsW4C #gaming #playsimple #mtg pic.twitter.com/SIOtIEeNC4
— Modern Times Group (MTG) (@MTGAB) July 2, 2021
Commenting on the acquisition, MTG’s Group President and CEO Maria Redin said “We’re very happy to welcome PlaySimple to our family of gaming companies. 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. 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.”
PlaySimple has developed popular mobile games like Daily Themed Crossword, Word Trip, Word Jam, and Word Wars. They also have four new games scheduled to release later this year. PlaySimple’s co-founder and CEO Siddharth Jain said “We’re delighted to join the MTG family – MTG’s approach to investments offers us creative freedom, and the opportunities created by the GamingCo really resonate with our team. We’re excited to have found a new home for our company, one where our team can learn and grow alongside our fellow companies.”
PlaySimple co-founders and management team members Siddhanth Jain, Suraj Nalin, and Preeti Reddy jointly said that this acquisition would help PlaySimple in expanding into the European market, investing in cutting-edge technology, and building exciting new games.
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