Playtika announced the acquisition of Reworks, which developed designer simulator Redecor.
According to this deal, Playtika has bought 80% of Reworks for $400 million in cash. Playtek will acquire the remaining 20% of the studio for another $200 million in 2023, but only if the Reworks meets its EBITDA target for 2022. If Reworks fails, the remaining share will go to Playtika for $1.
The company has offices in Ukraine, particularly in Kyiv, Vinnytsia, and Dnipro, with more than 600 employees. In 2019, the company opened the R&D center of the previously acquired German game company Wooga in Ukraine.
Playtika has developed famous Caesars Casino, Slotomania, House of Fun, Bingo Blitz, and other popular mobile games. In 2011, Playtika was acquired by Caesars Interactive Entertainment for $100 million. In August 2016, a consortium of Chinese companies, led by Giant, bought the company for $4.4 billion.