An Israeli start-up has done it again. Playtika, based in Herzliya and one of the world’s biggest online gaming firms, was bought out over the weekend by Chinese firm Giant Interactive, for $4.4 billion. The payment is in cash. The company will remain based in Israel, it said in a press release.
Playtika was established in 2010, and now employs over 1,300 people in nine countries. The company has additional studios and offices in Argentina, Australia, Belarus, Canada, Japan, Romania, Ukraine and the United States.
“This transaction is a testament to Playtika’s unique culture and the innovative spirit of our employees who for the past six years have consistently designed, produced and operated some of the most compelling, immersive and creative social games in the world,” said Robert Antokol, cofounder and CEO of Playtika, in a statement. “We are incredibly excited by the commercial opportunities the Consortium will make available to us, particularly in its ability to provide us access to large and rapidly growing emerging markets. This is an amazing milestone for all Playtikans and we truly value how unique this opportunity is to continue executing our vision with such a strong partner.”
“Playtika’s growth has been exceptional, and highlights its outstanding team, excellent corporate culture, cutting-edge big data analytics, and its unique ability to transform and grow games,” said a representative of the Consortium, Giant’s founder and Chairman Shi Yuzhu. “We are looking forward to Playtika continuing to innovate and excel.”