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 MTGโs EBITDA and free cash flow, pushing annual sales past $1.1 billion. Key Highlights: Plariumโs 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 Plariumโs 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 Plariumโs expertise in live-ops, user acquisition, and monetization. Integration with Plarium Play & GoGame […]