mynth
06/2026Majority

Integrated Media Company takes majority stake in Playstack

UNITED KINGDOM Software / Gaming & Consumer Apps EV £100–350M

Context

Integrated Media Company (IMC), through its subsidiary VantageCo Limited, has completed the acquisition of Playstack Limited, a leading independent UK-based video game publisher specializing in digital title releases across PC, console, and mobile platforms. This strategic move enables IMC, owner of several major media and digital entertainment brands, to bolster its presence in the gaming ecosystem by integrating a renowned player with a proven track record of identifying, funding, and commercializing high-potential independent games. The acquisition aims to create synergies between the group's content activities, gaming communities, and digital distribution channels, while expanding its exposure to the global interactive entertainment market. For Playstack, joining a group with an international audience, established media infrastructure, and significant marketing capabilities is expected to drive accelerated growth and enhance the visibility of its intellectual property portfolio. The transaction also marks the exit of long-term majority shareholder TruFin, which has successfully monetized its investment after several years of supporting the company. Following the deal, Playstack will retain its management team, operational identity, and strategic focus on publishing premium independent games developed by partner studios.

Playstack, which reported an EBITDA margin of [members only] in 2025, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, representing a discount to the average currently observed in the TMT (Tech, Media, Telecom) sector (14.6x in 2026).

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

Target

Playstack Limited is a UK-based independent video game publisher that specializes in the digital publishing and marketing of PC, console, and mobile titles. The company operates a lean, asset-light business model, built on long-term, exclusive partnerships with third-party development studios. These partnerships provide access to financing, marketing, digital distribution, quality assurance, and commercial support services. Playstack's portfolio boasts several notable franchises, including Balatro, Mortal Shell, Abiotic Factor, The Rise of the Golden Idol, and The Last Faith. The company primarily generates revenue through revenue-sharing agreements on digital sales made via platforms such as Steam, PlayStation Store, Xbox Store, Nintendo eShop, and mobile app stores. With a lightweight structure and a strong expertise in audience acquisition, Playstack focuses its resources on identifying high-commercial-potential intellectual properties and optimizing their visibility among gaming communities.

Ent. Value

£100–350M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

5x–12x

EV / EBIT

10x–18x

Historical Financials (GBP)

Year
Rev
EBITDA
EBIT
2025
£50–100M
£5–25M
£5–25M
2024
£50–100M
£5–25M
£5–25M

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REFERENCES

Valuation range: EV £100–350M

Revenue range: £50–100M

EBITDA range: £5–25M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 5x - 12x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Playstack by Integrated Media Company are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: playstack

Acquirer: integrated media company

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Playstack, a British company specialised in Gaming & Consumer Apps, by Integrated Media Company in 2026.

How was the acquisition of Playstack by Integrated Media Company valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the £100–350M band, its EV/EBITDA multiple within the 5x - 12x range, and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

What were Playstack’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Playstack generated annual revenue estimated in the £50–100M range and EBITDA in the £5–25M bracket (FY 2025). Detailed financial figures are available to members.

How does the valuation of Playstack compare to benchmarks in the TMT (Tech, Media, Telecom) sector?

The estimated multiple of 5x - 12x sits below the sector median of 14.6x recorded in 2026, indicating an attractive entry multiple for Integrated Media Company or reflecting specific complexities. The descriptive comparison is based on 15 transactions with available EV/EBITDA multiples from differences in size, growth, profitability that may affect comparability.

What sources support the information on this transaction?

Transaction data and operational intelligence were compiled from independent financial press reporting by specialized M&A publications.

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