DoubleU Games Acquires Paxie

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News/DoubleU Games Acquires Paxie







DoubleU Games Acquires Paxie
DoubleU Games Acquires Paxie

Investments

06 January 2025 13:46

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.

More:ESL Reveals 2026 Calendar

“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.

Tags: Paxie
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About the author

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Dante Uzel
Esports & Gaming Journalist
Dante Uzel is an esports and gaming news journalist with eight years covering the industry. His work has appeared in publications including Game Life and The Game Post, and he currently reports for TwogNews and TwogPedia.