Mobile game developer King acquires artificial intelligence company Peltarion
STOCKHOLM–(BUSINESS WIRE)–King, a leading interactive entertainment company for the mobile gaming world, today announced the acquisition of artificial intelligence software company Peltarion.
Peltarion is a Swedish artificial intelligence (AI) software company and developer of a no-code machine learning operations platform that allows users to design, train and manage deep learning models in the Cloud at scale and quickly. King’s acquisition of Peltarion will accelerate the current use of artificial intelligence and machine learning technology in King’s gaming platform, a key area of the company’s ongoing strategic direction. With this investment, King aims to continue to develop leading AI and machine learning capabilities and teams, enabling a new generation of innovative game design, development and live operations capabilities and becoming a hub for the world’s top gaming AI talent.
“We are proud to announce the acquisition of Peltarion. Machine learning technology is evolving rapidly, and by increasing our investments in this area, we plan to deliver even more creative content to our 250 million monthly players* (Q1 2022) across the globe. We are confident that the talented team at Peltarion, along with the powerful technology they have built, will help us serve our players even more effectively with more engaging games and content. It’s a step closer to our mission to make the world fun,” said Tjodolf Sommestad, President of King.
Founded in 2004 by Luka Crnkovic-Friis and Måns Essén, Stockholm-based Peltarion is one of Sweden’s most established AI innovators. Crnkovic-Friis and Essén will take on leadership roles at King, focusing on advancing King’s AI and machine learning capabilities and building on Sweden’s AI community and rich history of innovation in this domain.
“This is a monumental chapter in the history of Peltarion. We are thrilled to be part of a great AI success story in the Nordics, especially with Stockholm at its base. We are impressed with King for being the leader. one of the most successful Swedish technology companies and mobile game developers of modern times. The scale and reach of King, with iconic franchises like Candy Crush Saga, perfectly matches our technology. The opportunities with AI seem to be endless, and we look forward to unlocking the potential of working together,” said Luka Crnkovic-Friis, CEO of Peltarion.
“It is rare to find a team with such expertise in machine learning and AI technology, combined with a long history of successfully delivering this capability to many different organizations in various domains and markets. We are privileged to be able to welcome the Peltarion team into the King family. We have an ambitious vision for the future of mobile games. Together with Luka, Måns, the team and their powerful AI platform, we are accelerating our plan to use AI in the way we build and operate our games to deliver that vision and delight our players even more,” said said Steve Collins, King Chief. Technology Officer.
About the King
King is a leading interactive entertainment company for the mobile world. It had 250 million monthly active users in the first quarter of 2022 across web, social and mobile platforms, and has developed more than 200 exclusive games that are enjoyed worldwide through its distribution platforms king.com, Facebook and mobiles such as Apple App Store, Google Play Store, Microsoft Windows App Store and Amazon Appstore. King was acquired by Activision Blizzard (NASDAQ: ATVI) in 2016. King has game studios in Stockholm, Malmö, London, Barcelona and Berlin, as well as offices in San Francisco, New York and Malta.
Peltarion is a leading Swedish AI innovator headquartered in Stockholm. The first “Synapse” platform came out in 2004 and helped companies and organizations like NASA, Tesla, Dell, and Harvard benefit from AI. Peltarion’s vision is to make AI accessible and affordable for more people and creating a platform where people can work with AI without needing the skills of a data scientist is a step towards that vision. . Among Peltarion’s customers today, you will find companies in industries ranging from manufacturing to retail. And the opportunities to do more are growing every day.
Financial terms of this transaction were not disclosed.
*Monthly Active User (“MAU”): We monitor MAUs as a key measure of the overall size of our user base. MAUs are the number of individuals who accessed a particular game in a given month. We calculate the average MAUs during a period by adding the total number of MAUs during each of the months in a given period and dividing this total by the number of months in the period. An individual accessing two of our games would be counted as two users. Additionally, due to technical limitations, an individual accessing the same game on two platforms or devices during the relevant time period would be counted as two users.
Caution Regarding Forward-Looking Statements: Information in this press release that involves King’s expectations, plans, intentions or strategies regarding the acquisition of Peltarion are forward-looking statements that are not facts and involve a number of risks and uncertainties. . Factors that could cause King’s actual future results to differ materially from those expressed in the forward-looking statements set forth in this release include unanticipated product delays and other factors identified in the risk factors sections of the most recent report. Activision Blizzard Annual Report on Form 10-K. and all subsequent quarterly reports on Form 10-Q. The forward-looking statements contained in this release are based on information available to King and Activision Blizzard as of the date of this release, and neither King nor Activision Blizzard undertakes any obligation to update these forward-looking statements. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of King’s or Activision Blizzard’s future performance and are subject to risks, uncertainties and other factors, some of which are beyond King’s control and may cause actual results to differ materially from current expectations.