Video game publisher Take-Two Interactive Software announced that it has entered into a definitive agreement to acquire privately-held Playdots for $192 million, comprised of $90 million in cash and the balance in newly issued shares of Take-Two common stock. The acquisition is expected to close in the third calendar quarter of 2020, subject to customary closing conditions.
Founded in 2013 and based in New York City, Playdots builds mobile games with unique and thoughtful designs. The studio has created three mobile hits: “Dots,” “Two Dots” and “Dots & Co.,” which have been downloaded over 100 million times. Playdots is led by Nir Efrat, who came to the company in March, 2018 and serves as Chief Executive Officer.
“Our acquisition of Playdots will diversify and strengthen further Take-Two's mobile game offerings, particularly within the casual, free-to-play segment. Two Dots continues to grow its audience and under the leadership of Nir, the addition of scavenger hunts, social leader boards and live-ops technology are enhancing the game and driving meaningful, long-term consumer engagement. We are very pleased to welcome Nir and the entire team at Playdots to the Take-Two family and are excited by the potential of their development pipeline and positive, long-term contributions to our business,” said Michael Worosz, Executive Vice President and Head of Strategy and Independent Publishing for Take-Two.