Playtika up on buying Finnish mobile gaming firm Reworks Oy

Playtika Holding

31/08/2021 21:54

** Shares of mobile-gaming firm Playtika Holding Corp
 PLTK.O  up 1.6% at $26.80 in extended trading
    ** Co acquires an 80% stake in Finnish mobile gaming co
Reworks Oy for $400 mln in cash  urn:newsml:reuters.com:*:nGNX4JNwTd
    ** PLTK will buy the remaining 20% of Reworks for up to $200
mln, based on the Finnish company meeting a 2022 EBITDA target 
    ** If the agreed upon target is not exceeded, the
outstanding 20% will transfer to Playtika for $1
    ** This deal is expected to contribute about $30 mln in 2021
revenue - PLTK
    ** Reworks creates mobile apps combining lifestyle content
and social gaming, and is best known for home-designing game
Redecor
    ** PLTK, which debuted on the Nasdaq in January, is down
2.3% from its IPO price of $27, as of last close 
    

 (Reporting by Eva Mathews in Bengaluru)
 ((eva.mathews@thomsonreuters.com))