Playtika will spend up to $1.2 billion on mergers and acquisitions over the next three years
The management of Playtika stopped looking for a buyer for the company and decided to actively take up M&A. At an investor event, Craig Abrahams, President and Chief Financial Officer of Playtika, announced that the company plans to conclude one or two deals per year.
"We have introduced a new capital allocation system and are now using a multi-pronged approach to maximizing shareholder value. We will start paying quarterly dividends and allocate between $600 million and $1.2 billion dollars for mergers and acquisitions over the next three years," Abrahams said.
According to Abrahams, Playtika "has every chance to lead the consolidation in the mobile gaming industry."
Robert Antokol, CEO of Playtika, agrees with this. According to him, Playtika has never been particularly strong in independent game development, but it knows how to choose companies well for absorption.
Playtika itself changed its mind about selling "due to the continuing uncertainty in Israel and Ukraine." Recall that the company began to consider the possibility of its sale in 2022. According to media reports, a number of private investment firms were interested in buying Playtika, but they could not agree.
