Teddy Sagi‘s Playtech Cyprus Ltd. (LSE:PTEC) has bought Scotish GameMaker tools company YoYo Games for £10.65 million ($16.4 million).
An additional £3.4 million ($5.25 million) will be paid out according to milestones as part of an earn-out clause in the deal – Playtech’s usual model for acquisitions. Playtech has bought 15 companies since 2006.
A statement from PlayTech said the acquisition is part of the firm’s plans to expand its casual gaming operations, which already includes studio Plamee that employs 120 staff.
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Yoyo Games has developed GameMaker technology, which enables casual game developers to develop a game using a single code, and run it on a variety of platforms: Windows 8, Apple, Xbox, HTML5, Computers’ iOS, Ubuntu, Google’s Playstation and others.
According to Playtech, the GameMaker Studio family of solutions has already had over five million downloads, and has over 750, 000 registered game developers.
In total the GameMaker suite of products have been downloaded over five million times.
According to LinkedIn and Twitter profiles, YoYo Games CEO, Sandy Duncan, has stepped down following the acquisition.