Playtech Expands Social Gaming Portfolio With Funtactix Acquisition
Playtech are considered one of the largest online gaming technology providers in the world but have been quietly building up a strategy to get a piece of the social gaming market. Following their acquisition of Plamee and YoYo Games, Playtech have acquired social and mobile game studio Funtactix who are well known for developing social and mobile games based on Hollywood properties.
These include Mission Impossible, Creed, The Hunger Games, Rocky Etc. They are based in New York but also have offices in Tel Aviv and Los Angeles. Playtech is aiming to expand their reach to other markets besides real money gaming as the social gaming market is set to be worth over $35 billion for mobile alone. They will have their hands full as they will need to compete with giants like Supercell and King. However with Funtactix and their Hollywood connection the potential is there to make an impact and swoop up a market share.
Playtech COO Shimon Akad commented on the acquisition,” The Playtech casual games division has a clear strategy and direction, and we’re very confident it will continue to go from strength-to-strength. The acquisition of Funtactix, in addition to Plamee and YoYo Games, enables us to offer a complete suite of content and software to players, designers, and third parties including some of the largest studios and brands in the world.”