Acies Acquisition completed the merger with PLAYSTUDIOS in a $1.1bn deal.

Acies Acquisition, a special purpose acquisition company, completed the merger with PLAYSTUDIOS, a mobile games developer, in a $1.1bn deal. Consideration to PLAYSTUDIOS will comprise at least 89m shares of ACAC common stock and up to $150m in cash. In addition, BlackRock, ClearBridge Investments, Neuberger Berman Funds, and MGM Resorts International are leading participants in the $250m PIPE. PLAYSTUDIOS shareholders are expected to own 64% of the combined company, the Acies sponsors 3%, PIPE 18%, and public stockholders to own 15%. “Within today’s vast and growing games market, PLAYSTUDIOS is unique in offering their audience the opportunity to play for fun and earn for real. They know how to make engaging and enduring games, and stand apart in having harnessed the power of a robust and full-featured loyalty program,” Jim Murren, Acies Chairman.