Indian startup PlaySimple sells for over Rs 2691 crore, shows word games and puzzles are big business

PlaySimple has shown massive growth in the past year, and its growing collection of word games now helps MTG diversify its own gaming portfolio. MTG also seeks to increase its female gamer base through the acquisition.

In one of the largest exits among the Indian gaming startups, PlaySimple has been acquired by Swedish gaming major Modern Times Group (MTG). The companies have closed a deal of about $360 million (Rs 2691 crore) for the acquisition. Other than the set amount, there is also a $150 million (Rs 1121 crore) reward for the Indian gaming firm if it manages to hit certain performance metrics. The conditions for the performance-based earn outs, however, have not been made public yet.