Platinum Equity to acquire Game Taco, WorldWinner
Investment firm eyes creation of skill-based game platform.
Platinum Equity on Monday said it has agreed to acquire Game Taco, a skill-based mobile gaming platform.
In a related transaction, Game Taco will acquire WorldWinner, a provider of skill-game development and offerings, from GSN Games, a Game Show Network division, which is wholly owned by Sony Pictures Entertainment.
Platinum Equity said Game Taco and WorldWinner will be combined to create a skill-games competition platform with dozens of branded and generic titles.
Media executive David Nathanson will be a minority co-investor and serve as executive chairman of the combined businesses, the company said. Game Taco founder and CEO Joshua Barrow will serve as CEO.
The WorldWinner brand will continue operating under the Game Taco umbrella under WorldWinner GM Matt Turetzky.
The parties said WorldWinner’s established web gaming portal will help Game Taco expand beyond its current mobile-only business model.
Game Taco holds the rights to several well-known game licenses, including Atari hits such as Breakout, Asteroids and Centipede.
Financial terms were not disclosed.
Platinum Equity partner Jacob Kotzubei said in a statement: “This investment brings together two complementary businesses under a powerful leadership team with an exciting vision for growth. Platinum’s carve-out experience and operational expertise will help ensure a seamless transition and integration, maximizing the talents and technology of both companies.”
Barrow added: “Our acquisition of WorldWinner is a watershed moment for Game Taco. David and I have had WorldWinner on our respective radar for years, and with our resources now combined, and with Platinum Equity’s financial and operational backing, we position ourselves to aggressively pursue a much bigger share of the growing, multi-billion dollar skill-game industry.”
Nathanson said he has long admired GSN’s stewardship of WorldWinner. “The invaluable expertise of Matt and the leadership team and their success in cultivating a portfolio of premium IP has made them a forerunner in skill-based games. GameTaco’s existing skill-gaming platform, paired with WorldWinner’s portfolio of leading games, is a formula for exceptional growth and innovation over the coming months and years.”
Platinum Equity MD Dan Krasner said, “The combined company will continue to serve a loyal and dedicated community that has been competing in skill-based games for more than two decades. We will invest to further expand the user base and seek out additional partnerships and other avenues for growth to capitalize on the increasing demand in this space.”
Platinum Equity, a global investment firm with more than $25 billion of assets under management and a portfolio of approximately 40 operating companies, was founded in 1995 by Tom Gores.
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