M&A
confidence high
sentiment neutral
materiality 0.60
PLAYSTUDIOS acquires Pixode Games' assets for $3.5M plus up to $3.7M contingent
PLAYSTUDIOS, Inc.
- Acquired substantially all assets of Pixode Games for $3.5M cash at closing, with $100K held for indemnification.
- Additional $1.0M payable upon game launch and up to ~$2.7M contingent consideration based on three-year performance.
- Estimated acquisition-date fair value of contingent consideration ~$2.7M based on likelihood of achieving targets.
- Amended credit agreement with JPMorgan to exclude contingent consideration from debt incurrence covenant.
- Customary representations, warranties, and indemnification provisions in the asset purchase agreement.