Modern Times Group has acquired Plarium for £489 million

The Modern Times Group has announced that it has now completed its acquisition of free-to-play mobile game developer Plarium for £489 million [$620 million USD].

Plarium is best known for its work on RAID: Shadow Legends, a mobile RPG which has seen over 100 million downloads and generated £1.8 billion [$2.3 billion] in lifetime revenue since its launch back in 2019. It is also the studio behind other games like Mech Arena and Vikings: War of Clans.

The Modern Times Group (or MTG) is based in Sweden, and was first founded back in 1997. The other companies that are part of the Modern Times Group’s gaming portfolio are InnoGames, Hutch, Ninja Kiwi, PlaySimple and Snowprint.

“This transformative deal will enable us to realize our ambitions to become a leading European gaming group with one of the strongest portfolios of evergreen midcore IPs in the world,” said Maria Redin, MTG’s Group President and CEO.

“The acquisition of Plarium is a major catalyst for our future growth. It provides us with a unique opportunity to accelerate our execution and strategic delivery. This deal brings together some of the best people in our industry, supported by the tech, tools and knowledge we have across the whole of our group. I am excited about the next part of our journey and look forward to seeing what we can become when we work together.”

“We are thrilled to join MTG, a company that values Plarium’s proven success in the mid-core and casual gaming sectors,” added Schraga Mor, CEO at Plarium.

“Over the past year, we have returned to growth, setting new records and reinforcing our industry leadership— a reflection of our team’s exceptional talent.”

“With a strong foundation in digital marketing and live operations, alongside our track record of building engaged, loyal player communities, we are well-positioned to continue this momentum with our diverse portfolio of top-tier titles, including RAID: Shadow Legends, Merge Gardens, and Mech Arena.”