Swedish roll-up group MTG has completed its $620m acquisition of Raid: Shadow Legends maker Plarium.
MTG now claims it is “one of the world’s leading operators of successful mid-core and casual games”, and has said previously that the addition of Plarium to its ranks should double its revenue.
Plarium also operates casual puzzler Merge Gardens and shooter Mech Arena, alongside squad battler Raid.
The deal includes an up-front payment of $620m, of which $20m is deferred to 2026, offset by the cash flow generated between the start of Q4 2024 and until closing of the transaction. It also includes potential earn-out payments. The transaction is financed by a combination of cash on hand and $460m in financing, a mix of term loans with a 3+1 year tenor and RCF facilities.
Last week, MTG reported record Q4 revenue and 27% margins thanks to owned studios Snowprint, InnoGames and Playsimple. Their growth outpaced declines at Hutch and Ninja Kiwi.
As we reported previously, Plarium had been up for sale since May 2024. The Raid maker’s parent company, Australian gaming and gambling giant Aristocrat, also said it was considering selling casual mobile games arm Big Fish Games.
Group president and CEO Maria Redin said that the deal will enable MTG to realise its ambitions to become “a leading European gaming group with one of the strongest portfolios of evergreen midcore IPs in the world.”
Plarium CEO Schraga Mor added: “We are thrilled to join MTG, a company that values Plarium’s proven success in the mid-core and casual gaming sectors.”
“Over the past year, we have returned to growth, setting new records and reinforcing our industry leadership – a reflection of our team’s exceptional talent.”
