(RTTNews) - DoubleDown Interactive Co., Ltd. (DDI), a gaming company, on Tuesday announced that it has signed a Share Purchase and Transfer Agreement with Azerion Tech Holding B.V. to acquire Whow Games GmbH, a social casino game developer based in Hamburg, Germany.
The initial purchase price for full ownership of Whow Games is 55 million euros, around $64.7 million and is expected to close in the third quarter of 2025.
An additional earn-out of up to 10 million euros paid in two installments of 5 million euros each may be paid to Azerion if Whow Games meets certain performance targets in the first two years after closing.
The deal will be funded using DoubleDown's cash reserves.
The acquisition presents opportunities for DoubleDown to leverage its marketing, game development, and operational strengths to grow further in the European market.
DoubleDown plans to use Whow Games' presence in Europe and its partner-driven business model to drive growth, especially in Germany.
The company will combine this with its own marketing strengths, operational expertise, and broad gaming portfolio to expand in the region.
Whow Games has a strong foothold in the European social casino market, especially in Germany. The company offers a wide range of social casino apps, including its own brands like MyJackpot and Lounge777, as well as games developed for third parties.
On Monday, DoubleDown Interactive closed trading 0.21% lesser at $9.71 on the Nasdaq.
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