Australian gambling machine manufacturer, Aristocrat Leisure Ltd (ALL:ASE), on Oct. 20, 2017, reportedly finalized its acquisition of Israeli social gaming company Plarium Global Limited.

The deal to purchase the privately owned, free-to-play social, mobile and web-based developer for $500 million (€423.5m) cash was first announced by Sydney-based Aristocrat in August.

According to the press release, all of the necessary regulatory approvals, and other approvals having to do with the acquisition have been secured by Aristocrat. The games manufacturer will now reportedly take ownership of the company that was founded in 2009 and is headquartered in Herzliya, Israel.

Plarium has in its employ upwards of 1,200 people across five genre-specific studios and several offices throughout the US, Europe and Israel.

Managing director for Aristocrat, Trevor Croker, said: “This acquisition is truly compelling as it increases our presence in the high-growth mobile gaming market and substantially increases the digital segment’s pro forma earnings contribution to Aristocrat.

Croker went on to say that the acquisition reiterates the firm’s commitment to the pursuit of “high growth adjacencies” and growing their recurring revenue base.

He added, “Importantly, the acquisition is expected to be EPSA accretive in year one and key management personnel have remained in the business. “We are delighted to have Plarium and its exceptionally talented team join the Aristocrat family; we look forward to continue building our already very successful digital business together, for the benefit of Aristocrat’s shareholders and other stakeholders.”

Founded in 2009, Plarium’s Vikings: War of Clans is reportedly its most popular game to date having ranked in the top 10 grossing strategy games repeatedly since its launch. Other multiplayer online games Plarium is known for include Stormfall, Terminator Genisys: Future War, Soldiers, Inc. and Sparta: War of Empires.

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