Online gambling technology giant Playtech announced on Tuesday that it has made another move towards bolstering its casual games offering by purchasing popular social and mobile gaming studio Funtactix. Details on the transaction have remained undisclosed.
Headquartered in New York, Funtactix also has offices in Los Angeles, Tel Aviv, and Jerusalem, and is known for developing social and mobile games based on a number of popular movies and franchises, with Mission: Impossible and The Hunger Games being only few of these.
Apart from creating in-house gaming titles, the company is also known for working with a number of entertainment giants such as Lions Gate Entertainment and Paramount. Last year, Funtactix announced the launch of its publishing division FTX Games, with the latter being concerned with publishing major gaming titles and linking third-party gaming developers to holders of intellectual property.
The gaming studio said that it would remain focused on establishing FTX Games as a leading games publisher and following the latest announcement, it will now be able to do this supported by Playtech and its experience and resources for internal gaming development.
The latest deal comes as part of Playtech’s strategy to expand its presence on the casual games market and to eventually establish itself as a leader in the field. In 2014, the software giant launched its Plumbee social gaming division. In addition, it purchased Scottish company YoYo Games a year later.
Commenting on the latest casual gaming acquisition, Playtech Chief Operating Officer Shimon Akad said that the company has a clear vision on what direction its casual games business should take as well as on its future growth strategy. Mr. Akad further noted that by purchasing Funtactix, in addition to Plumbee and YoYo Games, Playtech is given the chance to provide designers, third-parties, and players with a full suite of diverse gaming titles.
The Funtactix acquisition is the latest to be announced by Playtech within the past several days. Last week, the Israeli gambling technology giant announced the purchase of Swedish creator of real money slot games Quickspin. The company is to pay the total amount of €50 million for the software developer.
