French mobile game publisher Voodoo has acquired Israel-based casual gaming studio Beach Bum.
The financial terms of the deal were not disclosed but the Israeli daily Globes put the figure between $250 and $300 million when it reported the deal Thursday, citing unnamed sources. Voodoo aims to generate income beyond advertising with in-app purchases with the acquisition.
“Shachar, Keren, and Gili have created a leader in their category, and built a strong, lean and very high performing team,” said Voodoo CEO and co-founder Alexandre Yazdi in a statement.
“This is exactly the type of company we like to partner with. Beach Bum and Voodoo share the same business philosophy and the same unlimited ambition to create a worldwide leading and inspiring mobile gaming company. Being together is a major step towards that direction.”
Beach Bum, which was founded in 2015 by Gigi Levy Weiss currently has 3 games: Backgammon – Lord of the Board, Spades Royale, and Gin Rummy Stars. The studio, which specialized in tabletop and card games, generated around $70 million in gross revenue over the last year. Its 150 employees will join Voodoo.
Gigi Levy-Weiss, Co-Founder and Active Chairman of Beach Bum, said: “I am super proud of the Beach Bum founders and team who built a phenomenal category leader. This is the outcome of both great talent and hard work and I couldn’t be happier for the team. I believe that the combination of Voodoo and Beach Bum creates a super power in the gaming world and I am very proud to be a partner in this exciting future!”