Playtika Holding Corp. Enters Definitive Agreement to Acquire the
Youda Games Portfolio from Azerion
Herzliya, Israel and Amsterdam,
Netherlands, August 1,
2023 – Playtika Holding Corp. (NASDAQ: PLTK), a
mobile games pioneer and interactive entertainment leader, and
Azerion Group N.V. (EURONEXT: AZRN) one of Europe’s largest digital
advertising and entertainment media platforms, announced today they
have entered into a definitive agreement for Playtika to acquire
from Azerion its Youda Games portfolio of games, including social
card themed title Governor of Poker 3, for an initial cash
consideration of EUR 81.3 million, with an earnout based on the
performance of the acquired business that could take the total
consideration up to a maximum of EUR 150 million, subject to
customary adjustments.
“The acquisition of Youda Games’ card game portfolio, with its
strong IP, is in line with Playtika’s strategic incremental growth
approach of leveraging our unrivaled LiveOps expertise and
proprietary technology stack to optimize and scale games,
strengthening our market position,” said Craig Abrahams, President
and Chief Financial Officer of Playtika. “We believe this
acquisition will be accretive to our financial performance and is
part of our strategy to acquire proven franchises where we can add
value.”
“Over the past few years, we have transformed our business by
scaling our digital advertising capabilities, developing our
strategic portfolio of partner-led content and extending the
presence and reach of our in-market commercial teams,” said Azerion
Group’s Chief Revenue Officer Sebastiaan Moesman. “As a result of
this dynamic shift towards our digital advertising platform, social
card games have become less strategic for Azerion, whilst remaining
an attractive investment opportunity for an industry partner such
as Playtika. This divestment will further simplify our business and
help us to continue investing in and delivering on our growth
ambitions.”
The transaction is currently expected to complete by the end of
the third quarter 2023 subject to the satisfaction of customary
closing conditions. Azerion will provide further information
relating to the transaction alongside its interim financial results
for Q2 and H1 2023.
About AzerionFounded in 2014,
Azerion (EURONEXT: AZRN) is one of Europe’s largest digital
advertising and entertainment media platforms. We bring global
scaled audiences to advertisers in an easy and cost-effective way,
delivered through our proprietary technology, in a safe, engaging,
and high-quality environment, utilizing our strategic portfolio of
owned and operated content with entertainment and other digital
publishing partners.
Having its roots in Europe with its headquarters in Amsterdam,
Azerion has commercial teams based in over 26 cities around the
world to closely support our clients and partners to find and
execute creative ways to really make an impact through
advertising.
For more information visit: www.azerion.com
About Playtika Holding
Corp. Playtika (NASDAQ: PLTK) is a mobile gaming
entertainment and technology market leader with a portfolio of
multiple game titles. Founded in 2010, Playtika was among the first
to offer free-to-play social games on social networks and, shortly
after, on mobile platforms. Headquartered in Herzliya, Israel, and
guided by a mission to entertain the world through infinite ways to
play, Playtika has employees across offices worldwide.
Forward Looking InformationIn
this press release, we make “forward-looking statements” within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995. Forward-looking statements can be identified by the fact that
they do not relate strictly to historical or current facts.
Further, statements that include words such as "anticipate,"
"believe," "continue," "could," "estimate," "expect," "intend,"
"may," "might," "present," "preserve," "project," "pursue," "will,"
or "would," or the negative of these words or other words or
expressions of similar meaning may identify forward-looking
statements.
Important factors that could cause Playtika’s
actual results to differ materially from estimates or projections
contained in the forward-looking statements include without
limitation:
- Our reliance on third-party
platforms, such as the iOS App Store, Facebook, and Google Play
Store, to distribute our games and collect revenues, and the risk
that such platforms may adversely change their policies;
- the reliance on a small percentage
of total users to generate a majority of the revenue for the Youda
game portfolio;
- the free-to-play business model,
and the value of virtual items sold in the Youda game portfolio, is
highly dependent on how we manage the game revenues and pricing
models;
- our inability to complete this
acquisition and integrate the Youda game portfolio into our
operations;
- that all closing conditions in the
transaction agreement are completed in a timely manner;
- that the closing will occur during
Q3 2023;
- the ability of the Youda games
portfolio to compete in a highly competitive industry with low
barriers to entry;
- legal or regulatory restrictions or
proceedings could adversely impact our business, including the
Youda games portfolio, and limit the growth of our operations;
- risks related to our international
operations and ownership, including our significant operations in
Israel, Ukraine and Belarus and the fact that our controlling
stockholder is a Chinese-owned company;
- our reliance on key personnel,
including our ability to retain the key personnel of Youda
Games;
- security breaches or other
disruptions could compromise our information or our players’
information and expose us to liability; and
- our inability to protect our
intellectual property and proprietary information could adversely
impact our business.
Additional factors that may cause future events
and actual results, financial or otherwise, to differ, potentially
materially, from those discussed in or implied by the
forward-looking statements include the risks and uncertainties
discussed in our filings with the Securities and Exchange
Commission. Although we believe that the expectations reflected in
the forward-looking statements are reasonable, we cannot guarantee
that the future results, levels of activity, performance or events
and circumstances reflected in the forward-looking statements will
be achieved or occur, and reported results should not be considered
as an indication of future performance. Given these risks and
uncertainties, readers are cautioned not to place undue reliance on
such forward-looking statements.
Except as required by law, we undertake no
obligation to update any forward-looking statements for any reason
to conform these statements to actual results or to changes in our
expectations.
Disclaimer This
communication contains information that qualifies as inside
information within the meaning of Article 7(1) of the EU Market
Abuse Regulation.
This communication may include forward-looking
statements. All statements other than statements of historical
facts are, or may be deemed to be, forward-looking statements.
Forward-looking statements include, among other things, statements
concerning the potential exposure of Azerion to market risks and
statements expressing management’s expectations, beliefs,
estimates, forecasts, projections and assumptions. Words and
expressions such as aims, ambition, anticipates, believes, could,
estimates, expects, goals, intends, may, milestones, objectives,
outlook, plans, projects, risks, schedules, seeks, should, target,
will or other similar words or expressions are typically used to
identify forward-looking statements. Forward-looking statements are
statements of future expectations that are based on management’s
current expectations and assumptions and involve known and unknown
risks, uncertainties and other factors that are difficult to
predict and that could cause the actual results, performance or
events to differ materially from future results expressed or
implied by such forward-looking statements contained in this
communication. Readers should not place undue reliance on
forward-looking statements.
Any forward-looking statements reflect Azerion’s
current views and assumptions based on information currently
available to Azerion’s management. Forward-looking statements speak
only as of the date they are made and Azerion does not assume any
obligation to update or revise such statements as a result of new
information, future events or other information, except as required
by law.
This communication does not constitute an offer to sell, or a
solicitation of an offer to buy, any securities or any other
financial instruments.
Azerion Group NV (EU:AZRN)
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