Huuuge is currently “actively analyzing” three potential acquisition targets and is satisfied with the progress of the talks, CEO Anton Gauffin said.
“Our ‘build and buy’ strategy remains unchanged. I said earlier, after the annual results, that in this ‘buy’ funnel there are 5 projects, i.e. potential targets. Now we have 3 of them, because one of them was ‘Traffic Puzzle’ “You could say that there is also a change here and all these companies need fuel. There is a lot of growth potential here to pursue an orderly, systematic ‘build and buy’ strategy,” said Gauffin during the videoconference.
According to him, it is possible, inter alia, thanks to Huuuge being a global team. Huuuge currently lists 31 projects on the shortlist of potential acquisition targets and 87 on the long list.
However, the CEO did not want to comment on when another Huuuge takeover on the market could take place.
“There are many actions that are being taken, we are happy about the progress. Not so long ago, we just announced the acquisition of ‘Traffic Puzzle’. We look positively at the future, but we cannot comment precisely at this stage” – added the president.
COO Elad Kushnir also said Traffic Puzzle allows Huuuge to enter a new gaming category, and the company’s new tool, Huuuge Fuel, also supports the build and buy strategy.
“It is an important tool and a growth factor for the future. It is an internal platform for us to use our knowledge to develop games. There are 3 key modules of this platform: monetization, analysis and growth. It is also the basis for building games. [ …] It is a strengthening of our technological advantage compared to our competition. Secondly, it allows us to scale our business in these three key business areas “- added Kushnir.
At the end of April, Huuuge announced that its subsidiary Huuuge Global had entered into an agreement to acquire “Traffic Puzzle” for mobile devices, along with the rights and assets associated with it, from Picadilla Games for $ 38.9 million. The company also explained that the inclusion of “Traffic Puzzle” in the portfolio will also accelerate the diversification of revenues and make the game quickly become the third most popular game after “Huuuge Casino” and “Billionaire Casino”.
Huuuge is a global free-to-play game developer and publisher of online games for mobile devices and internet platforms. The company made its debut on the WSE in February 2021. Its consolidated sales revenues reached USD 332.72 million in 2020.
