Take-Two Interactive buys Social Point
The free-to-play model seems to be extremely successful for the companies using it, and now the company behind publishers like Rockstar Games and 2K Games is finally entering this sector of the market. Take-Two Interactive announced earlier today the acquisition of Social Point, a mobile game developer from Spain.
Social Point is known for titles like Dragon City or Monster Legends, two titles that have been downloaded more than 180 million times so far (combined) on iOS and Android. Even more, both titles managed to enter the top 100 US mobile games by gross revenue since 2014. Social Point currently works on "a number of exciting games" that should come out over the next two years.
According to the official press release, the deal "Take-Two acquired all of the outstanding share capital of Social Point for $250 million, comprised of $175 million in cash and 1,480,168 unregistered shares of its common stock." This move comes more than a year after Activision entered the mobile gaming market by acquiring King for an impressive $5.9 billion.