{"id":4203,"date":"2021-09-05T01:46:32","date_gmt":"2021-09-05T08:46:32","guid":{"rendered":"https:\/\/www.gamesround.com\/blog\/?p=4203"},"modified":"2021-10-24T04:06:00","modified_gmt":"2021-10-24T11:06:00","slug":"redecor-app-developer-reworks-acquired-by-playtika-for-600m","status":"publish","type":"post","link":"https:\/\/www.gamesround.com\/blog\/redecor-app-developer-reworks-acquired-by-playtika-for-600m","title":{"rendered":"Redecor App Developer Reworks Acquired By Playtika For $600M"},"content":{"rendered":"\n<p><a href=\"https:\/\/www.gamesround.com\/blog\/mobile-games-developer-playtika-goes-public-at-11-billion-valuation\" title=\"Mobile Games Developer Playtika Goes Public At $11 Billion Valuation\">Playtika<\/a>, the developer of popular free-to-play mobile games like Slotomania and Caesars Slots, announced that it had acquired Reworks in a deal worth $600 million.<\/p>\n\n\n\n<p>Reworks, a Finnish startup best known for its home decorating app Redecor.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p>&#8220;Reworks offers us a compelling opportunity to establish a leading presence in a category that clearly commands a lot of interest and will potentially serve as a foundation to enter further areas beyond traditional gaming,&#8221; said Playtika CEO and chairman Robert Antokol.<\/p><\/blockquote>\n\n\n\n<p>As reported, Playtika has bought 80% of Reworks for $400 million to be paid in cash. The deal also includes up to another $200 million if Rework&#8217;s projected earnings meet certain milestones by 2022.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p>Ilkka Teppo, Reworks&#8217; CEO, commented: &#8220;In Redecor, we set out to build a leading entertainment product for the design community and are thrilled to be able to accelerate its growth with a partner like Playtika. Our strong creative capabilities complement Playtika&#8217;s expertise in technology and data, a match we think will be very beneficial to our future growth.&#8221;<\/p><\/blockquote>\n\n\n\n<p>Reworks is a member of EQT Ventures, including German hypercasual studio Popcore and Big Bang Racing developer <a href=\"https:\/\/www.gamesround.com\/blog\/traplight-games-closes-e8m-investment-round\" title=\"Traplight games closes \u20ac8m investment round\">Traplight<\/a>. Earlier in 2018, EQT Ventures sold Small Giant Games to <a href=\"https:\/\/www.gamesround.com\/blog\/zynga-acquires-golf-rival-developer-starlark-for-525m\" title=\"Zynga Acquires Golf Rival Developer StarLark For $525M\">Zynga<\/a>.<\/p>\n\n\n\n<p>On January 15, Playtika raised $1.88 billion by launching its initial public offering. The company sold over 69 million shares for each share priced at $27\u2014surpassing expectations.<\/p>\n\n\n\n<p>Playtika is now forecasting revenue of $2.6 billion for the next fiscal year, following a 20% rise in quarterly revenues after their successful IPO earlier this year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Playtika, the developer of popular free-to-play mobile games like Slotomania and Caesars Slots, announced that it had acquired Reworks in a deal worth $600 million. Reworks, a Finnish startup best known for its home decorating app Redecor. &#8220;Reworks offers us a compelling opportunity to establish a leading presence in a category that clearly commands a [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":4204,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[461,389,865,348,866,383],"_links":{"self":[{"href":"https:\/\/www.gamesround.com\/blog\/wp-json\/wp\/v2\/posts\/4203"}],"collection":[{"href":"https:\/\/www.gamesround.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gamesround.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gamesround.com\/blog\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gamesround.com\/blog\/wp-json\/wp\/v2\/comments?post=4203"}],"version-history":[{"count":4,"href":"https:\/\/www.gamesround.com\/blog\/wp-json\/wp\/v2\/posts\/4203\/revisions"}],"predecessor-version":[{"id":4208,"href":"https:\/\/www.gamesround.com\/blog\/wp-json\/wp\/v2\/posts\/4203\/revisions\/4208"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gamesround.com\/blog\/wp-json\/wp\/v2\/media\/4204"}],"wp:attachment":[{"href":"https:\/\/www.gamesround.com\/blog\/wp-json\/wp\/v2\/media?parent=4203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gamesround.com\/blog\/wp-json\/wp\/v2\/categories?post=4203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gamesround.com\/blog\/wp-json\/wp\/v2\/tags?post=4203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}