(Reuters) - Mobile games developer Huuuge Inc plans to launch an up to $150 million share buyback this quarter following a review of strategic options.
Huuuge Games Acquires Traffic Puzzle, for US$38.9M
The total consideration of this transaction was $38.9m USD.
The acquisition marks the first milestone for the company’s M&A and Build & Buy strategy, as Huuuge expands its reach into the high-growth casual games segment and accelerate its revenue diversification initiative.
In 2021, the company focuses on improving its monetization metrics within existing games, new product development and scaling of new franchises, improving profitability and EBITDA delivery and, as said above, expanding the business through M&A.
The genre of puzzle games – , to which Traffic Puzzle belongs – is the largest category within the casual segment, accounting for 56% of casual game revenue in 2020. Alongside social casino games, the category is a primary focus for the company’s product line-up.
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Mar 16th, 2021
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Earlier this week, Polish mobile developer and publisher Huuuge Games announced its plans for an Initial Public Offering.
To some, it was a bold announcement for the company. To others, it was unsurprising given that they first announced those plans back in September. The difference this time around, CEO Anton Gauffin tells
GamesIndustry.biz, is the company is much closer to making this long-held dream a reality. This week, we announced the intention to float. Previously when there were stories, we were not as far as we are at the moment, he explains. We re very close, and this is part of the process for how you do it on the Warsaw Stock Exchange basically, announcing the intention to float starts a launch sequence. Previously, it was a bit more speculative as to when it would happen.