Playtika Plans $1.2 Billion M&A Strategy for Next Three Years
Playtika's bigwigs scrapped the buyer hunt and are now all about M&A. CFO Craig Abrahams disclosed Playtika's intention to finalize 1-2 strategic deals annually. Playtika embraced a new capital allocation strategy, employing a multi-faceted approach to enhance shareholder value. With plans to initiate quarterly dividends and earmark between $600 million and $1.2 billion for M&As over the next three years, the company is poised for strategic growth. Largest M&A Gaming Deals in the Last Several Years In recent years, significant mobile gaming mergers and acquisitions (M&A) have occurred, such as Microsoft's $68.7 billion purchase of Activision Blizzard, Take-Two Interactive's $12.7 billion acquisition of Zynga, and Savvy Games Group's $4.9 billion takeover of Scopely. While most mobile gaming M&A deals from January 2021 to February 2024 involved large publishers acquiring smaller developers, activity slowed in 2022 and 2023 due to post-Covid […]