PLAYSTUDIOS Buys Brainium For $70 Mln Cash

(RTTNews) - PLAYSTUDIOS, Inc. (MYPS), a developer of free-to-play mobile and social games, said on Thursday that it has acquired Brainium, a publisher of casual games, for $70 million in cash.

The acquisition also includes contingent payment for performance of Brainium for the period from the closing of the acquisition through December 31.

Jason Hahn, EVP of Corporate and Business Development of PLAYSTUDIOS, said: "The acquisition of Brainium checks all the boxes on our growth strategy: it's accretive to earnings, it more than doubles our average daily active users, expands our portfolio of games in new genres, diversifies our revenue streams, and advances our playAWARDS platform position, all of which further establish our position as leaders in rewarded play…"

Founded in 2008, Brainium will retain its brand name and leadership team as part of PLAYSTUDIOS. Brainium currently offers 10 unique titles, which together have nearly 5.5 million monthly and 2 million daily active users.