French mobile gaming company Voodoo has bought Israeli casual gaming studio Beach Bum as it looks to expand in the market and diversify its revenue stream, it said in a statement on Thursday.
Voodoo, which last year joined the country’s growing ranks of tech unicorns – startups valued at $1 billion or more – with backing from China’s Tencent and Goldman Sachs, said it hoped the acquisition would help it generate income beyond advertising with in-app purchases.
It did not say how much it had agreed to pay for Beach Bum, but Israeli business daily Globes put the figure at between $250 and $300 million when it reported the deal earlier on Thursday, citing unnamed sources.
Beach Bum, whose tabletop games for mobiles include “Backgammon – Lord of the Board” and “Spades Royale”, generated around $70 million in gross revenue over the last year and will add 150 people to Voodoo’s 350-strong workforce.
Source: Reuters.com