Playtika entering home design market with $600 million acquisition of Reworks
The Israeli gaming company believes the purchase of the maker of hit design entertainment app Redecor will contribute approximately $30 million to its 2021 revenue
CTech | 09:25 01.09.2021
Israeli gaming company Playtika announced on Wednesday that it is acquiring Finland-based mobile apps company Reworks Oy for $600 million. Playtika said it will purchase 80% of Reworks for $400 million in cash and the remaining 20% of Reworks for up to $200 million, based on 2022 company EBITDA, as defined in the acquisition agreement. Playtika believes the acquisition, its eighth of a mobile game or IP since its founding in 2010, will contribute approximately $30 million to its 2021 revenue. Reworks is the maker of hit design entertainment app, Redecor. In 18 months since its launch, Redecor has grown to become the No. 2 design entertainment app based on in-app purchase revenue. Décor comprises 12% of all U.S. e-commerce sales, is one of the most popular categories on Pinterest, and returns more than 100 million Home Décor-related Instagram posts. Playtika believes Home Décor appeals to a similar demographic to that of its existing 36 million monthly active users.