Tencent is negotiating to acquire Playtika's SuperPlay studio for a price between $1 billion and $1.5 billion, according to people familiar with the matter. The potential deal would mark a significant premium over the $700 million that Playtika paid for the studio just last year.
A steep premium for a recent acquisition
Playtika bought SuperPlay in 2024 for $700 million. Now, less than two years later, Tencent is offering up to more than double that amount. The gap between the two valuations underscores how quickly the studio's perceived worth has grown — or how much Tencent wants to get its hands on the team and its games.
Neither Playtika nor Tencent have commented publicly on the talks. The negotiations are ongoing, and there's no guarantee a deal will be reached.
What SuperPlay brings to the table
SuperPlay is a mobile game studio known for casual titles. Its portfolio and development pipeline are what likely caught Tencent's eye. The Chinese tech giant has been expanding its global gaming footprint, and adding a proven studio like SuperPlay would fit that strategy.
But the facts here are limited. We know the studio was acquired by Playtika in 2024 for $700 million. We know Tencent is now in talks to buy it for $1 billion to $1.5 billion. The rest — the specific games, the team size, the revenue — isn't part of the public record we're working from.
What the deal means for Tencent
Tencent is already the world's largest gaming company by revenue. It owns stakes in Epic Games, Riot Games, and Supercell, among others. Buying SuperPlay would add another studio to its stable, one that Playtika clearly saw as valuable enough to pay $700 million for.
The premium Tencent is reportedly willing to pay suggests the studio has performed well or holds strategic value beyond its purchase price. But without more details, it's hard to say exactly what Tencent sees in SuperPlay that Playtika didn't already have.
Uncertain outcome
Negotiations of this size often fall apart. Price, terms, or regulatory hurdles could scuttle the deal. Tencent has faced increased scrutiny from Chinese regulators in recent years, and cross-border acquisitions can be complicated.
Whether the talks lead to a final agreement is not yet known. For now, the gaming industry is watching to see if Tencent will close another big deal — and at what price.
