DoubleDown Interactive to acquire Germany’s Whow Games
The acquisition will be funded through DoubleDown’s cash reserves and is expected to close in Q3 2025.
Key points:
– DoubleDown Interactive will acquire Whow Games for €55m, plus potential earn-outs
– The deal aims to expand DoubleDown’s reach in the European social casino market, especially in Germany
DoubleDown Interactive has announced its acquisition of Hamburg-based social casino operator Whow Games.
Earlier today, the Seoul-headquartered gaming company confirmed that it has signed a Share Purchase and Transfer Agreement with Azerion Tech Holding for 100% ownership of Whow Games at an initial cost of €55m ($64.7m).
The deal includes an additional earn-out of up to €10m based on performance targets over the next two years.
The acquisition will be funded through DoubleDown’s cash reserves and is expected to close in Q3 2025.
This acquisition marks a significant step for DoubleDown as it aims to bolster its footprint in Europe’s growing social casino market.
Whow Games, known for its brands like MyJackpot and Lounge777, reported unaudited revenue of €41.8m for 2024 and maintains a strong position in Germany’s social casino segment. The company’s portfolio includes both proprietary and third-party branded games, developed through licensing agreements with land-based casino operators.
Commenting on the development, DoubleDown’s CEO, In Keuk Kim, stated: “This acquisition marks a significant step toward increasing our competitiveness in the growing German social casino market. Leveraging our combined operational expertise and enhanced scale, we aim to unlock valuable synergies.
“We are delighted to welcome the Whow Games team to DoubleDown and look forward to working collaboratively on initiatives to drive growth across the business.”
Giovanni Valerio Valeriota, the CEO of Whow Games, added: “We are excited to begin this new chapter as part of the DoubleDown family. Their deep expertise in gaming makes them a natural fit for Whow Games, and we believe that this partnership will accelerate our growth and innovation.
“I would like to express our sincere gratitude to Azerion, whose support and strategic guidance during our time together has been instrumental in shaping Whow Games into the strong and dynamic company it is today.”
The acquisition builds on DoubleDown’s solid financial performance, following a 10.5% revenue increase in FY24 to $341.3m.
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