A controlling stake in the publisher Balatro will be purchased for $150 million

The British holding company TruFin has decided to sell its stake in Playstack—a publisher with a portfolio that includes Balatro, Abiotic Factor, Mortal Shell, and many other well-known games.

Balatro

The new owner of the stake in Playstack will be VantageCo. It is a newly established subsidiary of the investment firm Integrated Media Company (IMC), which specializes in investments in entertainment assets. For example, the platform Fandom currently operates under IMC’s wing. Incidentally, IMC itself is owned by the large investment holding TPG.

According to the terms of the deal, VantageCo will receive 84.5% of Playstack. For this stake, it will pay £112.4 million (approximately $150.87 million).

If everything proceeds smoothly, the deal will close in two weeks—on June 10th. Before that, it must be approved by TruFin’s shareholders, but the holding company hopes there will be no issues with them. According to TruFin, the sale of the Playstack stake has already been approved by two major investors who collectively own 44.29% of TruFin’s shares.

In the event the deal falls through, TruFin would need to pay VantageCo £5.2 million (approximately $6.98 million) as compensation.

It’s worth noting that Playstack recently celebrated its 10th anniversary. The publisher was founded in 2016 by Electronic Arts veteran Harvey Elliott, who once oversaw the development of games based on “Harry Potter”, and British entrepreneur Jasper Smith. Over the years, Playstack has released more than 20 games across various platforms.