INTEGRATED MEDIA COMPANY takes majority stake in PLAYSTACK
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 LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the TMT (Tech, Media, Telecom) sector (14.8x).
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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.
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Historical Financials (GBP)
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REFERENCES
Valuation range: EV 100M - 350M GBP
Revenue range: 50M - 100M GBP
EBITDA range: 5M - 25M GBP
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Target: playstack
Acquirer: integrated media company