Playtika acquires developer Reworks in deal worth up to $600m

Originally published on by Danielle Partis

80% of the firm purchased for $400 million, remaining 20% to be acquired in the next year

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Israeli mobile firm Playtika has acquired Finnish developer Reworks, best known as the creator of home decorating app Redecor.

Playtika has bought 80% of Reworks in cash for $400 million, and plans to purchase the last 20% for up to $200 million depending on company EBITDA in 2022.

Reworks was part of the EQT Ventures portfolio, which also includes Big Bang racing developer Traplight, and German hypercasual outfit Popcore.

This is the second departure from EQT’s gaming portfolio following the sale

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