At least $70 million (£62.2 million or €71.9 million) will be required to acquire Brainium, a publisher of casual games, by social gaming firm PlayStudios.
Patience, sudoku, and mahjong are just a few of the popular casual games that PlayStudios will be able to offer its customers as a result of the acquisition. According to the company, the number of people using their products on a regular basis will more than double as a result of the transaction.
An upfront cash payment of $70 million is part of the acquisition, with an additional contingent compensation of an unknown sum dependant upon Brainium's success between now and the end of the year.
The acquisition will broaden PlayStudios' revenue base, according to Andrew Pascal, founder and CEO of the company. This is because Brainium depends more on advertising revenue than the current PlayStudios brands, which rely more on in-app payments.
He explained that PlayStudios gained a collection of casual games that were "thoughtfully designed and highly engaging" after acquiring Brainium. "Having a substantial amount of advertising revenue to supplement our revenue model, which is primarily based on in-app purchases, further diversifies our business."
"We are excited to have the Brainium team on board and will be combining our resources to make sure that more players can earn real-world rewards."
Brainium Studios' COO, Scott Willoughby, recently stated that the resources provided by PlayStudios will greatly assist his company in expanding.
"Brainium is entering this next phase of growth," Willoughby said, describing PlayStudios as the ideal home for the company. "We are excited to become a part of their brilliant team, tap into their extensive strategic assets, and provide Brainium's dedicated player base with the one-of-a-kind playAWARDS platform."
After reaching an agreement with Acies Acquisition Corporation, a special purpose acquisition company, PlayStudios became public in June 2021 and listed on the Nasdaq Stock Exchange.
