Playdigious acquired by Fragbite Group
Context
Fragbite Group entered into a definitive agreement to acquire 100% of Playdigious to spearhead its expansion into the indie publishing sector. The transaction was structured with an upfront payment and several earn-out tranches totaling €3.5 million payable through 2023 to align future performance. This strategic move allowed Fragbite to internalize "cutting-edge" porting expertise and establish a new revenue stream within the premium mobile gaming segment, while the founders remained at the helm to lead the group’s new publishing division.
Playdigious, which reported an EBITDA margin of [members only] in 2021, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, standing directly in line with the average observed in the TMT (Tech, Media, Telecom) sector (14.2x in 2021).
-> Deep-dive in TMT (Tech, Media, Telecom) market trends
Target
Founded in 2015, Playdigious is the global market leader in adapting acclaimed indie PC and console titles for mobile platforms. The studio is renowned for its high-quality "porting" services, having successfully brought hits like Dead Cells, Northgard, Little Nightmares, and TMNT: Shredder’s Revenge to mobile audiences, including specialized releases for Netflix Games. With a track record of over 30 titles and multiple industry accolades—such as the Pégases Award for Best Mobile Game—the firm manages the entire lifecycle of a mobile adaptation, from technical development to global publishing.
Ent. Value
€0–15M
Equity Value
[members only]
Multiples
EV / Revenue
1x–3x
EV / EBITDA
10x–18x
EV / EBIT
[members only]
Historical Financials (EUR)
Other operations with Playdigious
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 10/2025 | GRIFFIN GAMING PARTNERS | PLAYDIGIOUS | FRANCE | Gaming & Consumer Apps |
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REFERENCES
Valuation range: EV €0–15M
Revenue range: €0–5M
EBITDA range: €0–5M
EV/Revenue range: 1x - 3x
EV/EBITDA range: 10x - 18x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Playdigious by Fragbite Group 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.
Acquirer: fragbite group
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