Playtech snaps up Tayside firm
Dundee games developer cashes in after selling Yoyo for £14 million
Sandy Duncan (left) established Yoyo as a games development company seven years ago and its main product is Game Maker: Studio which enables developers to operate across a range of platforms. It has been downloaded more than five million times.
The company has been acquired by Playtech, an international designer, developer, licensor and provider of services for the online, mobile, television and land-based gaming industry.
It will pay an initial £10.7m from existing balances with scope to add a further £3.4m.
In a statement to the London Stock Exchange yesterday Playtech said the acquisition of Yoyo is part of its strategy to penetrate the casual gaming space, which already includes Plamee.
This is an internal games development team employing more than 120 casual games developers which was established in early 2014.
Playtech’s directors said the acquisition will enable it to further diversify its business.
It will complete a three-pronged strategy into the casual games market, including the company’s experienced in-house games development studio; publishing of both in-house and third party games; and games technology, which includes Yoyo.
Prior to YoYo Games, Mr Duncan was the vice president and managing director for Europe at Lexar Media for which he established a distribution network and branch offices in six countries.
The Aberdeen University psychology graduate spent 17 years at Microsoft, including four years spearheading the software giant’s European Home and Retail business and successfully launching the Xbox across Europe.