Take-Two Interactive has acquired mobile studio Playdots for $192 million. The deal comprises $90 million in cash and $102 million worth of newly issued Take-Two shares.
Founded in 2013, Playdots is the developer behind Dots, Two Dots, and Dots & Co., which have amassed over 100 million downloads combined.
The studio is led by King's former head of franchises Nir Efrat, who currently serves as Playdots CEO and will remain at the helm following the deal.
Take-Two, which owns publisher 2K Games and Grand Theft Auto developer Rockstar, said the acquisition will "diversify and strengthen" its mobile offerings, specifically within the casual, free-to-play segment.
"Two Dots continues to grow its audience and under the leadership of Nir, the addition of scavenger hunts, social leader boards and live-ops technology are enhancing the game and driving meaningful, long-term consumer engagement," said Michael Worosz, EVP and head of strategy and independent publishing for Take-Two.
"We are very pleased to welcome Nir and the entire team at Playdots to the Take-Two family and are excited by the potential of their development pipeline and positive, long-term contributions to our business."