Asmodee is expanding its reach in the fast-growing social games space with the acquisition of ATM Gaming, the publisher behind party hits like Speed Bac (also known as Quickstop), Mouton Mouton and Pili Pili.
The deal is valued at €180 million on a cash-free, debt-free basis, with payment split between cash and newly issued class B shares. There’s also a potential earn-out of up to €70 million, tied to performance targets and payable in additional shares.
Doubling down on social games
This move strengthens Asmodee’s position in the social and party game category - one of the quickest-growing areas in tabletop right now. ATM Gaming has built a reputation on accessible, fast-paced titles that lean heavily into social play, making it a natural fit alongside Asmodee’s existing portfolio, which includes global hits like Exploding Kittens and Dobble (also known as Spot It!).
The companies aren’t strangers either. They’ve already worked together across several regions, so this acquisition feels more like a formal step up than a completely new partnership.
What ATM Gaming brings to the table
ATM Gaming has seen rapid growth over the past five years, reportedly increasing both sales and EBITDA tenfold. Its strength lies not just in its games, but in how it brings them to market - particularly through sharp digital marketing and a strong understanding of social trends.
Financially, the company is expected to contribute at least €50 million in net sales and more than €25 million in EBITDA for the 2026/27 financial year, even before any synergies kick in.
For Asmodee, that means an immediate boost to both growth and margins, with further upside expected as the two businesses integrate.
A shared direction
Asmodee CEO Thomas Kœgler highlighted the alignment between the two companies, pointing to a shared focus on entrepreneurial thinking, global ambition and creating games that bring people together.
ATM Gaming’s founders - Ben, JB, Antoine and Felix - echoed that sentiment, describing Asmodee as a long-time partner and positioning the deal as a way to scale their games to a wider global audience.
From a strategy perspective, the goal is clear: combine ATM’s creative, trend-driven approach with Asmodee’s global distribution and established market presence to build a stronger foothold in social gaming worldwide.
Looking ahead
With social games continuing to gain traction, this acquisition feels like a targeted play rather than a broad expansion. ATM Gaming’s catalogue complements Asmodee’s existing lineup without overlapping too heavily, and its growth trajectory suggests there’s still plenty of room to scale.
If integration goes smoothly, this could be one of those deals that quietly pays off over time - strengthening Asmodee’s position in a category that’s only getting bigger.
