Game publisher Tilting Point announced today that it has made its third acquisition in eight months, buying games, key employees and “most of the assets” from FTX Games and Plamee Studios — both previously owned Playtech, which will be focusing on its gaming and sports betting software moving forward.
Plamee previously developed Narcos: Cartel Wars, which has supposedly made $60 million in revenue since launch. FTX published Cartel Wars, as well as The Walking Dead: Free Casino Slots and Criminal Minds: The Mobile Game. Tilting Point has taken over operations for all three FTX titles, as well as a fourth that’s currently in development.
The financial terms of the acquisition were not disclosed.
Last fall, Tilting Point acquired Gondola, a startup that optimizes in-game offers and ads. Then it purchased the mobile game Star Trek Timelines earlier this year, hiring the development team to form a new gaming studio called Wicked Realm Games in the process.
CEO Kevin Segalla said this he’s always seen acquisitions as a big part of the company’s “progressive publishing” model, in which the company is first hired to help developers with user acquisition and then develops a deeper business relationship over time.
“We were built to ultimately be in a position where we could acquire some of the studios that we’re working with,” Segalla said.
He added that the expects “more acquisitions down the pike for sure,” with Tilting Point particularly interested in acquiring games have previously been “constrained in marketing spend” and “clearly are going to have longer legs.”
It sounds like studios acquired by Tilting Point continue to operate with a degree of independence while drawing on the larger company’s resources to grow and monetize their games.
“We truly value the developers’ independence,” Segalla said. “We specifically want to work to continue operating their business and help them accelerate their growth. A lot of development studios are recognizing that scale is becoming more and more important.”
Source: Tech Crunch