ider Playtech has acquired UK-based Yoyo Games Limited.

Headquartered in Dundee, Yoyo is the creator of GameMaker: Studio (GMS), a mobile-driven cross-platform casual game development technology which enables developers to create games using a single programming code and then publish them to run natively across most common platforms.

The acquisition, which will be funded from Playtech's existing cash balances, will cost $16.4m, of which 30% will be held in escrow for up to 36 months after closing to provide security in respect of claims.

An earn-out consideration and retention plan is expected to add $5.25m to the aggregate cost.

GMS enables game developers to create cross-platform games in hours with a user-friendly intuitive platform.

It has secured more than 750,000 registered games developers who currently use the platform on a freemium basis with chargeable add-ons.