Playrix spends $100 million on acquisitions in 2019

By 2025, Playrix intends to catch up with the leaders of the US market in terms of the annual revenue. These include companies like Activision Blizzard Inc. and Electronic Arts Inc.

This is coming directly from Playrix founders, Igor and Dmitry Bukhman. The goal is ambitious, but achievable, given that by the end of 2019, Playrix revenue will reach $1.5 billion. This is 30% more than the company earned a year earlier.

For comparison, Activision Blizzard earned $7.5 billion last fiscal year, Electronic Arts made $4.9 billion, and Take-Two – $1.8 billion.

The acquisition of new assets, as the brothers told Bloomberg, is one of the growth drivers for the company. In 2019 alone, Playrix has invested more than $100 million in a dozen studios. This will allow the company to increase the number of its products from the current 5 to 16-18 in the near future.

Playrix’s investments ranged from 30% to controlling stakes. The purchases span Russia, Ukraine, Serbia, Croatia and Armenia. Bloomberg reports that all studios continue to work after transactions as independent units.

With new studios on board, Playrix employs 1,700 people. 600 of them work in the newly acquired studios.