Activision buys 11.6% stake in mobile casino game developer
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Activision-Blizzard has acquired a 11.6% stake in Play Studios shortly before the company went public.
Games titan Activision-Blizzard has purchased 12,677,398 shares of Play Studios, a game developer mostly known for casino-based F2P social smartphone titles. The acquisition was made after Play Studios merged with the SPAC Acies Acquisition Corp. in order to start publicly trading on NASDAQ. Activision-Blizzard's share buyout represents a 11.6% portion of Play Studios.
Neither Activision nor Play Studios have publicly announced the share purchases on their press release pages, and the deal was found via SEC filings. Play Studios currently has over 4 million monthly active users and its share value sits at $7.84 per share with 106 million shares outstanding.
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