MTG completes $620M Plarium Buy
Mid-Core Mobile Dominance here.
Modern Times Group (MTG) is acquiring Plarium, the studio behind Raid: Shadow Legends, from Aristocrat Leisure for $620 million. The deal, expected to close in Q1 2025, will nearly double MTG’s EBITDA and free cash flow, pushing annual sales past $1.1 billion.
Key Highlights:
- Plarium’s Performance:
- $613M revenue and $137M adjusted EBITDA (LTM as of Sept 2024).
- Raid: Shadow Legends is the top-grossing turn-based RPG on mobile.
- Other hits: Vikings: War of Clans, Mech Arena, Merge Gardens (90% of Plarium’s revenue).
- Expanding into China & Asia via a NetEase partnership.
- Financial Structure & Growth Impact:
- $20M deferred payment (2026); potential earnouts of $30M (2025) & $170M (2028).
- Acquisition expected to be highly EPS accretive.
- $460M bank financing secured.
- Strategic Synergies:
- MTG gains Plarium’s expertise in live-ops, user acquisition, and monetization.
- Integration with Plarium Play & GoGame to boost existing MTG titles.
- MTG will contribute tech in browser play, casual game optimization, and platform expansion.
Leadership Vision:
“This transformative deal positions MTG as a leading European gaming group,” said Maria Redin, MTG’s CEO. “Plarium’s top-tier live games, UA tools, and strong team perfectly align with our growth strategy.”
Founded in 2009, Plarium has 1,300 employees across Israel, Poland, Ukraine, and Finland. The studio, acquired by Aristocrat in 2017, continues to drive innovation in mid-core and casual gaming.
This acquisition cements MTG’s position as a powerhouse in mobile gaming, with a robust portfolio poised for organic and strategic expansion. 🚀
