Baker Botts advised Stockholm-headquartered Modern Times Group (MTG), the NASDAQ-listed international mobile gaming group with popular global IPs across a wide range of casual and mid-core genres, on its acquisition of Plarium Global Ltd (Plarium), the studio behind the popular squad battler role-playing game, RAID: Shadow Legends.

Plarium, headquartered in Israel with creative teams in Ukraine, Poland, Finland and Spain, is part of the Australian group, Aristocrat Leisure, a leader in gaming content creation. As well as RAID: Shadow Legends, Plarium's offering includes strategy and city-building game Vikings, player-vs-player battler Mech Arena and casual title Merge Gardens. It has several other projects in development. Its proprietary direct-to-consumer platform, Plarium Play, and marketing analytics tool, GoGame, will accelerate the performance of MTG’s portfolio. The transaction values Plarium at USD 620 million, plus potential earn-out consideration of up to USD 200 million based on performance over 2025-28.

London Corporate partner David Marshall led a cross-border team of Baker Botts lawyers, supported by Washington Corporate partner Brendan Dignan. David previously advised MTG on their acquisitions of Hutch Games (UK), Ninja Kiwi (New Zealand) and Playsimple (India).

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