Churchill Downs, the company behind the Kentucky Derby, is to pay up to $885m for the Seattle-based Big Fish Games, a leading mobile games development studio.
“The acquisition of Big Fish and our entry into the rapidly growing mobile and online games industry gives us new products, new customers, new geographies and new sizable growth opportunities,” said William C Carstanjen, chief executive of Churchill Downs.
Paul Thelen, founder and chief executive of Big Fish, added: “Churchill Downs is a great cultural fit for us and we are thrilled to be joining the Churchill Downs family.”
The deal is worth at least $485m, with potential add-ons of up to $350m, dependent on Big Fish’s future earnings and bookings.
