Private equity firm Joffre Capital has bought a majority stake in Israeli mobile publisher Playtika for $2.2 billion.
As reported by Reuters, Joffre has agreed to purchase a 25.73 percent stake in Playtika at $21 per share — that represents a premium of 46 percent on the price of Playtika stock as of Monday, June 27.
Joffre will purchase its shares from Playtika Holding UK II Limited, which is the largest shareholder in the company with a stake of 52 percent.
Playtika is known for working on titles like Best Fiends. The company went public in January 2021 at a valuation of $1.6 billion, offering 69.5 million shares between $22 and $24 per share at the time.
Since then, the company has attempted to pursue mergers and acquisitions, and in September last year acquired Redecor developer Reworks for $600 million to enter the design entertainment market.