In February of last year, Sweden's mobile powerhouse Modern Times Group (MTG) completed a $620 million acquisition of Plarium, the developer behind the wildly popular hero‑collecting title Raid: Shadow Legends. That deal, while already sizable, appears to be only the opening move in a broader strategic push.
"We set out the vision last year that, following the Plarium acquisition, we want to double our size again," MTG President and Chief Executive Officer Maria Redin told GamesIndustry.biz. "We will continue to drive organic growth, but to reach that goal we will need to pursue additional acquisitions." Redin’s timetable for this doubling is bold: she aims to achieve it within three to five years. The Swedish group has already demonstrated the capacity to scale quickly—Redin notes that MTG pursued a similar ambition in 2021 and ultimately tripled its size. A few years ago the mobile gaming sector was expanding at double‑digit rates, but growth has since slowed to single‑digit percentages, signalling a maturing market.
What was once a blue‑ocean landscape now resembles a crowded red sea, where expanding market share often means taking it from competitors or absorbing them outright. Acquiring companies is the easy part; the real challenge lies in integrating them smoothly. The industry is littered with cautionary tales of failed integrations that led to studio closures.
MTG, however, believes it has a clear roadmap. Before buying Plarium, MTG already owned a portfolio of mobile studios such as InnoGames (creator of Forge of Empires), Snowprint (Warhammer 40,000: Tacticus), Hutch (F1 Clash), Ninja Kiwi (Bloons TD 6), and Futureplay (Merge Gardens).
These studios were grouped into two “districts”: the Casual District and the Midcore District—the latter covering games that sit between casual and hardcore experiences. The districts have recently been rebranded as Playsimple and Playamp respectively.
Playsimple, named after the India‑based WordTrip studio, houses free‑to‑play, ad‑supported titles, while Playamp contains the majority of MTG’s portfolio, focusing on games that generate revenue through in‑app purchases. The rebranding goes beyond a new label. Redin says the aim is to forge "one of the leading gaming villages," a name chosen to evoke a sense of community and belonging.
The emphasis is on retaining talent and fostering a culture where acquired teams feel motivated to stay. "Gaming is the best marriage of creativity and data‑driven decision‑making," Redin explains. "People are our biggest asset, but we also need to create an environment where they can thrive.
When we acquire a studio we want the founders and their teams to remain post‑acquisition, because that’s when the real story begins and we can scale the business together. The only way to ensure they stay is to make that environment enjoyable." Behind the scenes, MTG has been standardising technology and tools across its network.
Redin notes that not every studio needs a bespoke tech stack; a shared foundation can improve efficiency. This standardisation effort began when she took the helm in 2020, but the scale required to roll it out fully only materialised after Plarium joined the group.
The initiative is careful to respect the differing needs of the two districts. Playsimple’s tech stack will serve as the baseline for future casual acquisitions, while the Midcore (Playamp) division will adopt select components of Plarium’s technology suite. Redin stresses that the rollout is selective and based on thorough internal assessments of where collaboration makes sense.
Plarium’s GoGame marketing platform and product‑detail‑page (PDP) data system are already being deployed across MTG, with additional features being added to enhance functionality. Redin believes these tools will boost the output of all studios, allowing the group to focus resources where they generate the greatest return.
"We have some amazing game makers across the group, and with Playamp we want to super‑charge them with a tech suite they can leverage, elevating everything that’s already been done." Generative AI is another pillar of MTG’s modernization. InnoGames, for example, has been using AI to generate all of the content for its mobile title Sunrise Village and plans to extend AI‑driven content creation across its portfolio.
Redin observes that AI is becoming embedded in production pipelines throughout the mobile sector. "Most of the industry is having similar conversations about how to adopt new technology," she says, adding that generative AI is "significantly more powerful than any tool we’ve had before." The company’s AI strategy focuses on augmenting existing workflows—A/B testing, graphics creation, quality assurance, and more—by layering AI capabilities onto current tools. Successful AI solutions from individual studios are being incorporated into the broader Plarium tech suite, allowing rapid cross‑studio diffusion of best practices.
"We need to let our studios experiment within an overarching AI framework, share learnings, and quickly roll out breakthroughs on a larger scale," Redin explains. When asked whether AI will eventually replace human creativity, Redin is cautious. "I don’t think AI will do everything we do. Our talent’s creativity remains essential and isn’t fully replicable by AI yet.
However, if we ignore AI we’ll fall behind competitors. Embracing it lets us move faster and produce better games," she asserts. She cites AI’s ability to address capacity shortfalls in coding, art, and complex logic as a key advantage. Revenue-wise, about 80 % of MTG’s income now stems from the Playamp division, with the remaining 20 % generated by Playsimple.
Redin is eager to broaden both sides of the portfolio. She mentions Snowprint as a model: "We bought Snowprint a few years ago; if we could find five more studios like Snowprint worldwide, that would be fantastic." On the casual side, she notes that Playsimple currently consists of a single studio but still contributes a notable share of revenue.
Redin hints at the possibility of adding a third district to the gaming village, one that would likely centre on core capabilities such as marketing platforms or data analytics. Despite the market’s maturity, the top‑ten mobile games list remains remarkably stable year after year. Redin reiterates MTG’s long‑standing belief in evergreen IPs.
While Raid: Shadow Legends has many years ahead, the company also recognises the necessity of a fresh pipeline. "Investing in new games is essential to keep the creative DNA of our studios alive," she says, noting that Plarium has a new title slated for a soft launch early next year.
The broader industry context is sobering. Supercell’s CEO Ilkka Paananen warned that the Western mobile market is "coasting," with only two of the 22 titles that have crossed $1 billion in revenue since 2020 originating from the West. Even Supercell’s own incubation efforts have struggled, as illustrated by the recent shutdown of Squad Busters.
Redin acknowledges these challenges but remains optimistic. "We have three billion gamers worldwide, so the market is still compelling," she says. "Growth is now modest—low single‑digit to mid‑single‑digit percentages—but if we want to exceed that baseline we must continue to nurture strong evergreen IPs while also bringing fresh experiences to market." In summary, MTG under Maria Redin’s leadership is pursuing a multi‑pronged growth strategy: aggressive acquisitions, thoughtful integration, unified technology platforms, AI‑enhanced production, and a balanced mix of proven evergreen titles and new game development. The goal is to double the company’s size within a few years, create a cohesive "gaming village" that attracts and retains talent, and stay competitive in an increasingly crowded mobile landscape.