Platinum Equity has signed of an agreement to acquire Game Taco, a skill-based mobile gaming platform that joins gamers from around the world to play and compete in tournaments for recreation and cash prizes. In connection with the transaction, Game Taco will acquire WorldWinner, a provider of skill-game development and offerings, from GSN Games, a Game Show Network division, which is wholly owned by Sony Pictures Entertainment. The two companies will be combined, creating a premium skill-games competition platform boasting dozens of branded and generic titles. Financial terms were not disclosed.
Media executive David Nathanson will be a minority co-investor and serve as executive chairman of the combined businesses. Game Taco founder and CEO Joshua Barrow will serve as CEO.
“This investment brings together two complementary businesses under a powerful leadership team with an exciting vision for growth,” said Platinum Equity partner Jacob Kotzubei. “Platinum’s carve-out experience and operational expertise will help ensure a seamless transition and integration, maximizing the talents and technology of both companies.”
“Our acquisition of WorldWinner is a watershed moment for Game Taco,” said Barrow. “David and I have had WorldWinner on our respective radar for years, and with our resources now combined, and with Platinum Equity’s financial and operational backing, we position ourselves to aggressively pursue a much bigger share of the growing, multi-billion dollar skill-game industry.”
“I have long admired GSN’s stewardship of WorldWinner. The invaluable expertise of Matt and the leadership team and their success in cultivating a portfolio of premium IP has made them a forerunner in skill-based games,” said Nathanson. “GameTaco’s existing skill-gaming platform, paired with WorldWinner’s portfolio of leading games, is a formula for exceptional growth and innovation over the coming months and years.”
“The combined company will continue to serve a loyal and dedicated community that has been competing in skill-based games for more than two decades,” said Platinum Equity managing director Dan Krasner. “We will invest to further expand the user base and seek out additional partnerships and other avenues for growth to capitalize on the increasing demand in this space.”