• James Kinch

PlaySimple acquired by Modern Times Group for 360 Million dollars

PlaySimple, a developer from India who have developed a variety of puzzle games for Android have been acquired by the Modern Times Group who have a gaming division named 'GamingCo' for 360 Million dollars.

MTG’s Group President and CEO Maria Redin commented:

“We’re very happy to welcome PlaySimple to our family of gaming companies. PlaySimple is a rapidly growing and highly profitable games studio that quickly has established itself as one of the leading global developers of free-to-play word games, an exciting new genre for MTG. An experienced management team and focused, data driven operating model has allowed PlaySimple to develop multiple game hits especially popular with the growing global audience of female gamers. What’s more, the company has a pipeline of several exciting new games, some of which are card games, a new genre for PlaySimple.

The company noted that PlaySimple's "ad-tech and cross promotion competences" are one of the main reasons for the takeover, showing a strong showing in the previous year up by 144% from last year.

PlaySimple’s co-founder and CEO Siddharth Jain commented:

“We’re delighted to join the MTG family - MTG’s approach to investments offers us creative freedom, and the opportunities created by the GamingCo really resonate with our team. We’re excited to have found a new home for our company, one where our team can learn and grow alongside our fellow companies.”

To follow PlaySimple on Twitter, click here.