On Monday, Israeli media reported that CIE had acquired the Tel Aviv-based BBP, whose most popular social gaming title is Poker Friends, which ranks among the top 50 free social casinos iOS apps on US and European charts. The company’s other products include WC Poker, so named because it’s designed to be played in the time necessary for the average water closet retreat and perhaps because Traces of Fecal Matter On Your Phone Poker was already taken.
The deal’s price tag was not disclosed, but Globes reported that the deal was worth $10m. BBP’s original investors included former 888 Holdings CEO Gigi Levy, who is now likely looking at a nice return on his investment.
The acquisition was made via CIE’s Playtika brand, into which CIE consolidated all its social gaming operations last year. CIE is the dominant social casino brand based on a flurry of acquisitions over the past four years, including Playtika, Buffalo Studios and Pacific Entertainment. CIE’s social and mobile gaming revenue rose 30.5% to $175.4m in the most recent quarterly earnings report.
Playtika founder Robert Antokol issued a statement saying this latest acquisition was further evidence of his company’s commitment to support the Israeli tech industry “by giving opportunity to local entrepreneurs and innovators in the field.”
BBP’s nine staff members will continue to work out of their current office. Antokol said BBP’s founder Gilad Almog and his team “will enable us to continue expanding our reach in the global market and moreover to hold onto our position in Israel as the leader of the gaming industry.”