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Press release MTO MTG acquires leading word games developer PlaySimple and discloses pro forma figures for its gaming vertical STOCKHOLM , July 2 , 2021 - Modern Times Group MTG AB ( publ ) ( “ MTG ” ) today announces the acquisition of 100 % of PlaySimple , a leading word games developer from India . PlaySimple is a rapidly growing , highly profitable business and one of the global leaders in the attractive mobile word games genre . The up - front consideration amounts to approximately SEK 3,090 million ( on a cash and debt free basis ) and performance based earn - out payments amount to an expected value of SEK 1,287 million in aggregate . Since December 2020 , MTG has with the acquisitions of Hutch , Ninja Kiwi and now PlaySimple accelerated the buildup of a highly attractive gaming vertical which on a pro forma basis generated revenues of approximately SEK 4,421 million in 2020 and SEK 1,158 million in Q1 2021 with monthly ( MAU ) and daily active users ( DAU ) of approximately 30 and 6 million respectively . Highlights : ● ● ● ● MTG will through its subsidiary MTG Gaming AB - referred to as ' GamingCo ' in previous MTG announcements - acquire 100 % of the shares in PlaySimple for a total consideration of approximately SEK 3,090 million ( USD 360 million ) excluding performance based earn - outs , on a cash and debt free basis The intention is to pay the upfront consideration 77 % in cash and 23 % in MTG class B shares . MTG will call for an Extraordinary General Meeting to resolve on the consideration shares PlaySimple is one of India's leading game developer and publisher , and is one of the global leaders in the fast - growing mobile word games genre PlaySimple grew its revenues by 144 % in the 2020 calendar year to SEK 706 million ( USD 83 million ) with an adjusted EBITDA of SEK 154 million ( USD 18 million ) . The strong momentum has continued into 2021 with estimated H1 revenues of SEK 510-540 million ( USD 60-64 million ) , up approximately 82 % , and an estimated adjusted EBITDA increase of 140 % to SEK 145-155 million ( USD 17-18 million ) , compared to the corresponding period last year PlaySimple has a live portfolio of nine games , including successful titles such as " Daily Themed Crossword " , " Word Trip " , " Word Jam " , and " Word Wars " with over 75 million installs and 7 million MAU . The company also has four additional new games in the pipeline to be launched in 2021 , and is expanding into the card games genre The company has been especially successful in reaching and become popular with the growing audience of female gamers , which today makes up close to 80 % of its total player base MTG has through recent acquisitions of Hutch , Ninja Kiwi and PlaySimple materially increased its size to become a well - diversified scale player in the gaming space with pro forma revenues for MTG's gaming vertical of approximately SEK 4,421 million for 2020 and SEK 1,158 million for Q1 2021