{"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

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

Reworks, a Finnish startup best known for its home decorating app Redecor.<\/p>\n\n\n\n

“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,” said Playtika CEO and chairman Robert Antokol.<\/p><\/blockquote>\n\n\n\n

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’s projected earnings meet certain milestones by 2022.<\/p>\n\n\n\n

Ilkka Teppo, Reworks’ CEO, commented: “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’s expertise in technology and data, a match we think will be very beneficial to our future growth.”<\/p><\/blockquote>\n\n\n\n

Reworks is a member of EQT Ventures, including German hypercasual studio Popcore and Big Bang Racing developer Traplight<\/a>. Earlier in 2018, EQT Ventures sold Small Giant Games to Zynga<\/a>.<\/p>\n\n\n\n

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

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":"

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. “Reworks offers us a compelling opportunity to establish a leading presence in a category that clearly commands a […]<\/p>\n","protected":false},"author":14,"featured_media":4204,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[461,389,865,348,866,383],"class_list":["post-4203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eqt-ventures","tag-playtika","tag-popcore","tag-reworks","tag-traplight","tag-zynga"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t