Social Point Sold for a Whopping $276M!

Looks like some massive opportunities have just opened up for one of our favorite Barcelona startups, Social Point!

Take-Two Interactive (Grand Theft Auto, Civilization, BioShock) has acquired Social Point, a Barcelona-based mobile game developer, TechCrunch reports, for $250 million with additional earn-outs of up to $25.9 million. It seems that Take-Two is ready to tap into mobile gaming, having focused more on console and PC until now.

“With the acquisition of Social Point, Take-Two has further diversified its business, expanded its portfolio of owned intellectual property, and significantly enhanced its position in the fast-growing free-to-play mobile gaming space,”

Strauss Zelnick, Chairman and CEO of Take-Two has commented.

“The experienced team at Social Point shares our commitment to delighting consumers with high-quality entertainment, and we believe that Social Point’s deeply-engaging mobile offerings will be a perfect complement to our business. Social Point is one of the few mobile game developers that has a proven track record of growing revenues and delivering multiple hits, and we expect this growth to continue given the company’s exciting development pipeline.”

Does this mean we’ll soon find ourselves playing some of Take-Two’s legendary games on our mobile devices? And what does this acquisition mean for Social Point? We can’t wait to find out.

Image: Social Point on Google Play Store