Playtika pursues diversification with JustPlay.LOL acquisition

With 1v1.LOL being a battle royale-style third-person shooter game, Playtika said the acquisition fit its strategy of widening the types of game it offers.

“The acquisition of JustPlay.LOL and its leading title, 1v1.LOL, continues our strategy of diversifying the game genres we operate in as we leverage our industry-leading game operations technology to grow revenue via our Boost Platform,” Playtika chief strategy officer Eric Rapps said. 

Boris and Lior Alterman founded Israel-based JustPlay.LOL in 2018  and owned the business up until the Playtika deal, while also serving as chief executive and chief technology officer, respectively.

Its games boast more than 50 million downloads and around 700,000 daily active users.

“JustPlay.LOL has organically built an impressive community of engaged users,” Rapps added. “We look forward to working with the JustPlay.LOL team to further expand that base and to provide them the best entertainment experience possible.”

Playtika did not disclose the purchase price for the deal.

Playtika’s efforts to diversify have also included pursuit of blockchain-related opportunities. Last week, the business announced the appointment of Jacob Mendel as its vice-president of blockchain technology.