This acquisition also includes a contingent consideration tied to Brainium’s performance between the deal’s completion and 31 December 2022.
In recent months, Playstudios’ loyalty platform, PlayAwards, has been a major focus of the company; CEO Andrew Pascal even listed the growth of the programme’s rewards offering as one of “three key objectives.”
To this end, Playstudios believes that Brainium’s content portfolio and, in particular, userbase will enhance PlayAwards’ appeal to partners.
Brainium’s acquisition will bring games such as Solitaire, Spider Solitaire, Sudoku and Mahjong to Playstudios’ content library, and more than double the company’s average daily active users.
“The acquisition of Brainium checks all the boxes on our growth strategy,” said Jason Hahn, Playstudios’ Executive Vice President of Corporate and Business Development.
“It’s accretive to earnings, it more than doubles our average daily active users, expands our portfolio of games in new genres, diversifies our revenue streams and advances our PlayAwards platform position.”
Pascal, meanwhile, said: “It also further diversifies our business by complementing our largely in-app-purchase (IAP) based revenue model with a meaningful amount of advertising revenue.”
Brainium was founded in 2008 and is based in Portland. Following the acquisition, the studio will retain its brand name and leadership team.
Scott Willoughby, Brainium’s COO, added: “Playstudios is the perfect home for Brainium as we enter this next phase of growth.
“We look forward to joining their talented team, leveraging their vast strategic resources and offering the unique PlayAwards platform to Brainium’s loyal player base.”