French gaming firm Vodoo has acquired Israeli gaming firm Seashore Bum for an estimated $250-300 million, sources near the deal have informed “Globes.” Seashore Bum was based by Gigi Levy-Weiss and Uri Shahak, who beforehand based Israeli gaming firm Playtika (Nasdaq: PLTK).
Seashore Bum, which has developed digital board video games backgammon, rummy and spades, relies in Ra’anana and had grown quickly beneath the media radar lately, and gained hundreds of thousands of loyal customers who’ve been in a position to play their ‘actual world’ favourite video games on their cell phones.
Seashore Bum’s backgammon hits the jackpot
Voodoo is a number one French cellular gaming firm with a valuation of $1.4 billion, and whose shareholders embrace Tencent and Goldman Sachs.
Seashore Bum lets customers open their app and discover companions to play towards in actual time. The app turned particularly well-liked through the Covid pandemic when hundreds of thousands of individuals have been socially remoted at house in lockdown however utilizing Seashore Bum have been capable of finding companions to play their favourite video games. The corporate will quickly launch a product which is able to take the expertise on the earth of video, making it potential to play backgammon or rummy towards companions utilizing video packages resembling Zoom.
Seashore Bum was based in 2015 by chairman Gigi Levy-Weiss and Uri Shahak who left the corporate a number of years in the past. Three extra executives who subsequently joined the corporate have been given founder standing – CEO Shachar Schalka, VP advertising Keren Marom and backgammon sector director Gili Levy. Seashore Bum has greater than 100 workers. The corporate has raised simply $14 million from Saban Ventures and North83.
Income over the previous 12 months has totalled $70 million, which means that the exit has been for 3 to 4 occasions annual income, which is par for the course within the gaming trade.
Voodoo was represented within the deal by Advs. Yaniv Aronowich, Tamar Krongrad, Boaz Feinberg and Nadav Buchbletter from Tadmor Levy & Co.
Printed by Globes, Israel enterprise information – en.globes.co.il – on September 30, 2021
Copyright of Globes Writer Itonut (1983) Ltd. 2021