Report: Tencent in talks to acquire SuperPlay in deal valued at up to $1.5 billion

Tencent is reportedly in negotiations to acquire Israeli mobile game developer SuperPlay from Playtika in a deal valued at between $1 billion and $1.5 billion, according to a report from Calcalist. If completed, the transaction would transfer one of Playtika’s fastest-growing studios to the Chinese technology company less than two years after its acquisition.

SuperPlay was acquired by Playtika in November 2024 for $690 million in cash, alongside an earnout agreement worth up to $1.25 billion tied to the studio’s financial performance between 2025 and 2027. Since then, the developer has exceeded the performance targets used to calculate those additional payments, significantly increasing Playtika’s future financial obligations.

According to the report, SuperPlay generated $573 million in revenue during 2025, approximately 67% above the baseline target established in the original acquisition agreement. As a result, Playtika increased the estimated value of its contingent earnout payments from $734 million in its 2025 annual report to $829 million in its first-quarter 2026 financial results. Industry sources cited by Calcalist believe the liability could continue to rise if the studio maintains its current growth trajectory.

One of the company’s primary growth drivers has been Disney Solitaire, which launched through a partnership with Disney. The title is estimated to generate around $300 million in annual revenue, contributing significantly to SuperPlay’s recent financial performance.

The proposed acquisition would not only give Tencent another established mobile gaming studio but could also relieve Playtika of a growing financial commitment. According to the report, the transaction value does not include the remaining earnout obligations, with Tencent expected to assume those future payments if the acquisition proceeds. That would remove a substantial liability from Playtika’s balance sheet while providing the company with additional capital.

Playtika acquired SuperPlay as part of a strategy to expand beyond its traditional social casino business and strengthen its position in the casual mobile games market. Selling the studio would represent a shift in that strategy, despite SuperPlay becoming one of the company’s strongest-performing assets since the acquisition.

The report also notes that Playtika faces approximately $2.3 billion in debt maturities between 2028 and 2029. Refinancing that debt at today’s higher interest rates could significantly increase financing costs, making the sale of SuperPlay a potential way to strengthen the company’s financial position ahead of those repayments.

Neither Tencent nor Playtika has publicly confirmed the negotiations. As a result, the reported acquisition remains under discussion, and there is no guarantee that a final agreement will be reached.