Reworks to be acquired by Playtika for $600 million.

Reworks, a Helsinki, Finland-based game developer, announced getting into an agreement for selling the company to the Israel-based publicly traded games maker Playtika.

The deal was made for 80% of the shares for $400 million in cash. Playtika will purchase the remaining 20% of Reworks for up to $200 million, based on 2022 Company EBITDA.

Reworks, founded at the end of 2018 and led by CEO Ilkka Teppo, has been working on the development of a game named Redecor, an interactive home designer title that allows players to remodel their home as they see fit. In 18 months since its launch, Redecor has grown to become the #2 Design Entertainment app based on in-app purchase revenue.

Reworks has raised less than $6 million since its start, with €4 million in a capital investment round led by EQT Ventures announced in 2020. Other investors include Play Ventures, Big Bets and Anton Gauffin, who is acting CEO at Huuuge Games.