Las Vegas-based free-to-play mobile and social games developer Playstudios announced the acquisition of Portland-based mobile casual game studio Brainium. Playstudios said the acquisition consists of $70 million in upfront cash and an additional sum tied to Brainium’s performance through the end of 2022.
Founded in 2008, Brainium currently offers 10 unique titles, which collectively generate around 5.5 million monthly active users and 2 million daily active users. Playstudios says the acquisition more than doubles the company’s average daily active users, enhancing the reach and appeal of its playAWARDS platform to players and rewards partners.
“The acquisition of Brainium brings a suite of thoughtfully designed and highly engaging casual games to PLAYSTUDIOS. It also further diversifies our business by complementing our largely in-app-purchase (IAP) based revenue model with a meaningful amount of advertising revenue,” said Andrew Pascal, founder and CEO of PLAYSTUDIOS. “We look forward to welcoming the Brainium team and working together to fully leverage our combined strengths in order to put real-world rewards in the hands of significantly more players.”
Playstudios went public last year through a merger with Acies Acquisition Corp. Its games include Tetris®, myVEGAS Slots, myVEGAS Blackjack, and myVEGAS Bingo. The MGM-backed company generated $287.4 million in revenue in 2021, while daily active players were around 1.5 million at mid-year, up 20% from 2021.
“PLAYSTUDIOS is the perfect home for Brainium as we enter this next phase of growth,” said Scott Willoughby, Chief Operating Officer of Brainium Studios. “We look forward to joining their talented team, leveraging their vast strategic resources, and offering the unique playAWARDS platform to Brainum’s loyal player base.”