Editing News/DoubleU Games Acquires Paxie

{{News
|seo_title=DoubleU Games Acquires Paxie
|seo_keywords=Paxie
|image=Doubleu games.png
|tags=Paxie
|date=2025-01-06T13:46:10.000Z
|sources={{NewsSource
|source=Business Wire
|url=https://www.businesswire.com/news/home/20241225448193/en/DoubleU-Games-acquires-Turkish-studio-Paxie-Games-One-of-the-Top-5-Companies-in-Fast-Growing-Merge-2-Genre
|article=News/DoubleU Games Acquires Paxie
}}
|author=Andura
|category=Investments
|content=DoubleU Games, developer of social casino games, has announced an agreement to acquire Paxie Games, the Turkish studio behind Merge Studio: Fashion Makeover. The deal will see DoubleU Games acquire a 60% stake in Paxie Games for $27m at closing, with the remaining 40% to be purchased over the next three years, contingent on meeting certain financial targets, ensuring full ownership by the end of the third year. The acquisition will be financed through a mix of treasury shares and cash, and is expected to close in the first quarter of 2025.

This acquisition marks DoubleU Games’ strategic entry into the rapidly expanding Merge-2 genre. Paxie Games has garnered significant attention, achieving substantial downloads and revenue, and consistently ranking in the Top 5 within the genre, according to Sensortower data. Additionally, the acquisition will enable DoubleU Games’ popular titles to be played in Korea for the first time, a significant milestone for the company, which currently generates 100% of its revenue from international markets.

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“We believe the acquisition of Paxie Games represents a significant move to secure an expanded portfolio of new mobile gaming titles, driving growth and unlocking new opportunities,” said Jay Choi, Chief Financial Officer.
}}