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Swedish gaming giant acquires India s PlaySimple for $360 million – TechCrunch

Swedish gaming giant acquires India s PlaySimple for $360 million – TechCrunch
techcrunch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techcrunch.com Daily Mail and Mail on Sunday newspapers.

Gamasutra - MTG acquires Indian word game developer PlaySimple for initial $360 million

Gamasutra - MTG acquires Indian word game developer PlaySimple for initial $360 million
gamasutra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gamasutra.com Daily Mail and Mail on Sunday newspapers.

MTG loses money in Q1 despite greater revenues

MTG today reported its first quarter earnings, showing year-over-year growth in revenues but still posting a significant loss. For the three months ended March 31, MTG reported sales up 9% to SEK 1.01 billion ($121 million), with a net loss of SEK 124 million ($14.8 million) representing a modest improvement over the previous first quarter s shortfall of SEK 132 million ($15.8 million). The company s gaming business saw revenues up 23% to SEK 767 million ($91.6 million), thanks to growth from InnoGames and the addition of sales from Hutch, which it acquired in December. However, MTG s esports vertical (the merged ESL Gaming and Dreamhack) continues to be hurt by the pandemic, with revenues down 18% to SEK 244 million ($29.1 million).

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