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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DoubleU Games Acquires Paxie

Investments

06 January 2025 13:46

Tags: Paxie

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.

Share:

Sources:

Report mistake   

Submit news   

Related news

View All

Blue Ocean Games Reveals New Fund

Blue Ocean Games, has officially launched with a $30 million investment fund aimed at supporting indie game developers at the...

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Apr 23, 2025

Motorsport Games Receives $2.5m Investment

Motorsport Games has announced a strategic investment worth $2.5 million (~£1.8 million), led by Delaware-based virtual reality (VR) technology...

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Apr 16, 2025

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Kameha Ventures has launched a €25 million ($27 million) fund aimed at supporting early-stage startups in the games technology sector. The...

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Apr 01, 2025

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Ubisoft has announced a significant step in its transformation, following a $1.25B investment from Chinese tech giant Tencent. This move...

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