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Playtika buys Redecor dev Reworks for $600 million to enter design entertainment market

Playtika hopes the deal will allow it to expand beyond traditional gaming.

Mobile publisher Playtika has acquired Reworks, the Finnish developer behind home design game Redecor, for up to $600 million.

The deal will see Playtika acquire 80 percent of Reworks for $400 million in cash, before grabbing the remaining 20 percent for a fee that could rise to $200 million based on certain EBITDA performance targets.

Playtika intends to leverage its Boost technology platform and expertise in live-ops to expand into the burgeoning 'design entertainment' genre, and said the Reworks deal its a huge step towards achieving that goal.

"Reworks offers us a compelling opportunity to establish a leading presence in a category that clearly commands a lot of interest and will potentially serve as a foundation to enter further areas beyond traditional gaming," said Playtika co-founder, CEO and chairman Robert Antokol in a press release.

"Redecor provides amazing entertainment to design enthusiasts and we intend to utilize our expertise in mobile gaming, live-ops and technology to take it to new heights. Reworks' talented team will enable us to build new apps in-house to drive future organic growth across the broader digital entertainment and app ecosystems."

Since launching 18 months ago, Redecor has grown to become the second most-lucrative design entertainment app based on in-app purchase revenue. Playtika expects the acquisition to add roughly $30 million in 2021 revenue to its books, and noted the deal marks its eighth acquisition of a mobile game or property since being founded in 2010.

Looking ahead, Playtika will continue to pursue other mergers and acquisitions, and has approximately $1.4 billion in available liquidity to fund those purchases. 

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