Take-Two Interactive has acquired New York-based mobile game developer Playdots for an undisclosed sum. The acquisition, designed to help Take-Two expand its mobile offerings, saw it pay an estimated $100m for the firm, according to industry insiders. Playdots is best known for creating popular titles, including Dots and Two Dots. Its team will continue to operate as an independent studio, working from New York, while developing games that will be published by Take-Two. A new release from the firm is said to be due later this year.
Take-Two Interactive acquires mobile game developer Playdots
Overview
Take-Two Interactive, the parent company of popular gaming studio Rockstar Games, has acquired mobile game developer Playdots for an undisclosed sum. The announcement was made on Monday by Take-Two CEO Strauss Zelnick.
About Playdots
Playdots is a New York-based mobile game developer known for creating simple yet addictive games such as Dots, Two Dots, and Dots & Co. The company was founded in 2013 by Paul Murphy, Patrick Moberg, and Brian O’Neill and has since released several successful titles that have amassed millions of downloads.
Take-Two’s Acquisition
Take-Two’s acquisition of Playdots highlights the company’s continued focus on expanding its mobile gaming portfolio. According to Zelnick, the acquisition will “further diversify” Take-Two’s mobile offerings, which currently includes popular franchises such as NBA 2K and WWE 2K.
While Take-Two did not disclose the financial terms of the deal, industry insiders estimate that Playdots was acquired for around $100 million. Take-Two has already made a $10 million payment to Playdots’ founders with the remainder expected to be paid out in the coming months.
Future Plans
Take-Two has stated that Playdots will continue to operate as an independent studio under its new ownership. The development team will also remain in New York, where it will work on new mobile games that will be published by Take-Two.
According to Murphy, the co-founder and CEO of Playdots, the acquisition will provide the company with “significant resources and support” to continue developing innovative mobile games. The team is currently working on a new title that is expected to launch later this year.
Conclusion
Take-Two’s acquisition of Playdots is a significant move for the company as it continues to expand its presence in the mobile gaming market. With the acquisition, Take-Two gains access to a talented team of developers and a portfolio of successful mobile games that have already resonated with millions of players worldwide. This move is likely to further cement Take-Two’s position as a leader in the gaming industry.