TruFin said on 21 May that it had agreed to sell its 84.5% stake in Playstack, the London publisher of Balatro and Abiotic Factor, to a subsidiary of Integrated Media Company at an enterprise value of £125m.
Why Integrated Media Company (VantageCo Limited) is buying Playstack Limited (TruFin's 84.5% stake)
TruFin chief executive James van den Bergh called the disposal a demonstration of disciplined capital allocation and described IMC as a strong platform for Playstack's next stage. Playstack's founder Harvey Elliott said the team and strategy would not change.
“We believe the disposal of Playstack represents a milestone for TruFin and a clear demonstration of our disciplined approach to capital allocation and value creation.”
Deal terms and financing
The price is on a debt-free, cash-free, normalised working capital basis. TruFin expected about £112.4m in net cash, excluding a £1.5m tax holdback, and planned to return capital through a tender offer.
Regulatory approvals and timing
As a fundamental change of business under AIM rules, the sale needed TruFin shareholder approval, which was given on 8 June 2026, with completion set for 10 June.
Market context
Integrated Media Company has previously acquired brands including Fandom and GameSpot. After the sale TruFin kept its payments businesses Oxygen and Satago.
