Jun 27, 2022 - Economy

Scoop: Joffre Capital to buy majority stake in gaming company Playtika

Illustration of a gaming control with a dollar sign cable

Illustration: Eniola Odetunde/Axios

Private equity firm Joffre Capital has agreed to acquire a majority stake in gaming company Playtika at $21 a per share from a Chinese investment group, Axios has learned.

Why it matters: It's nearly a 46% premium to where Playtika stock ended trading on Monday.

Catch up quick: Playtika, founded in 2010, is an Israeli maker of casual mobile games and "social casino" games.

  • The company went public in January 2021 at $27 per share, representing an $11.1 billion valuation. As of Monday's close, its market cap was just shy of $6 billion.
  • It announced in February that it was exploring strategic alternatives, including a potential sale.

Details: Playtika shares would continue trading on the NASDAQ following the deal with Joffre, a tech-focused buyout firm led by James Lu, a former Baidu executive who also serves as chairman of LGTBQ dating app Grindr.

  • Both Playtika and Joffre declined comment.
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