Wemade (via Wemade Innovation) to acquire 20.9% of Sundaytoz (now Wemade Play) for KRW 136.7bn
- Deal value
- $94m
- Stake
- 20.9%
- Implied 100%
- $451m
- Revenue
- $73m
- Op. income
- $9m
- Multiples
- EQV/EBIT 50.3xPSR 6.2x
Deal value ÷ stake (structure unconfirmed)
2020 연결 · DART-verified
2020 연결 · DART-verified
On implied equity value
DART 20210318001377
- Target
- Sundaytoz (now Wemade Play) · Mobile casual games
- Buyer
- Wemade (via Wemade Innovation) · SI
- Seller
- Smilegate Holdings (old shares) + new shares
- Structure
- —
- Announced
- Dec 20, 2021
- Closed
- —
- Stage
- Signed
Target
Sundaytoz is a KOSDAQ-listed casual mobile game developer known for the Anipang series, which also runs social casino games such as Slotmate through subsidiaries. It was renamed Wemade Play in March 2022.
Deal rationale
Wemade CEO Chang Hyun-kuk said the deal adds casual games to the WEMIX blockchain ecosystem with social casino as a further target, saying Wemade would pursue M&A boldly and globally to expand the WEMIX ecosystem (Tech42). He said casual and social casino games fit well with a blockchain economy (Dealsite). The deal consisted of buying 2,000,000 existing shares (20.90%, KRW 84bn) from Smilegate Holdings plus KRW 52.7bn of new shares via a rights offering; Smilegate sold about 58% of its 35.52% holding.
| Revenue | $73m |
| Operating income | $9m |
| EBITDA | — |
| Net income | — |
2020 연결 · DART-verified · 20210318001377
Press coverage
- 테크42 (2021-12-20): “200만주(20.90%)를 위메이드이노베이션에 총 840억원에 양도한다”
- 머니투데이방송(MTN) (2025-09-15): “위메이드가 선데이토즈 인수에 투입한 금액은 1367억원에 달했다.”
- 딜사이트 (2022-02-18): “캐주얼 게임과 소셜카지노 게임은 블록체인 경제에 매우 잘 어울린다”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.