? Potential IPO
Israel-based mobile game developer and publisher Playtika has hired Morgan Stanley and other investment banks to prepare for a U.S. initial public offering. The company is aiming to go public either later this year or early in 2021 and raise over $1b with the expected valuation of around $10b.
The timing, valuation and deal size are subject to market conditions.
? History Behind
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Founded in 2010, Playtika has been acquired by a group of Chinese investors including Giant Network Group and Yunfeng Capital, a private equity firm founded by Alibaba Group founder Jack Ma, for $4.4b in 2016.
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Over the last 12 months, Playtika has been active in M&As and has acquired several games businesses, including German mobile studio Wooga, Austrian studio Supertreat, and Best Fiends developer Seriously.
? Product
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Playtika, is known for its casino-themed games and operates apps for poker and solitaire: Slotomania, BINGO Blitz, Best Friends and other.
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Playtika currently boasts 27 million monthly active users.
? Several gaming companies have decided to go for an IPO in the next 12 months.
