A number one digital video games developer and writer, DoubleDown Interactive, introduced that it has entered a Share Purchase Agreement for the acquisition of SuprNation, a Swedish iGaming supplier of unique gaming experiences. The deal entails cash concerns for roughly $35 million and is topic to the ultimate 2022 monetary evaluate.
DoubleDown Interactive has a few years of expertise in online gaming. It is the creator of interactive leisure experiences for gamers world wide, offering them with Vegas leisure by way of a web-based social on line casino expertise. With the quickly acquisition of the Swedish expertise firm, the developer expects to draw new customers and enhance current providers, in addition to to develop new ones by balancing the versatile library of on line casino video games.
“We are pleased to announce the first acquisition since DoubleDown’s IPO that we believe complements our existing social casino franchise well and exposes DoubleDown to new growth markets,” stated In Keuk Kim, Chief Executive Officer of Double Down Interactive, and added:
“The acquisition of SuprNation increases our presence in the European i-Gaming market with other geographies expected to be added over time. Their gaming titles and captivating gamification features have created a loyal customer base that we aim to grow while capturing synergy opportunities, including incorporating our deep online gaming experience. As we evaluate inorganic growth opportunities, we will continue to focus on gaming businesses that offer clear synergies with our existing strengths.”
Growing actual cash gaming foothold:
Joakim Stockman and Henric Andersson, Co-Chief Executive Officers of SuprNation stated: “We are extremely excited to become a part of DoubleDown and are looking forward to leveraging the obvious strengths of both companies in the years to come. As part of DoubleDown, we expect to accelerate our expansion and grow our real money gaming foothold through continued development of unique products and efficient marketing strategies.”
This all-cash share buy settlement is anticipated to be closed throughout the second quarter of 2023, following regulatory approvals. Once the deal is closed, SuprNation can be a direct, wholly-owned vertical of DoubleDown Interactive LLC. The expertise firm with a robust European presence and with gaming licenses in jurisdictions together with Sweden, Great Britain, and Malta will allow the famend gaming firm to entry SuprNation’s broad buyer base and enhance frequent operations for the good thing about each entities.
January by way of September 2022, this buyer base engaged in SupNation’s cell on line casino experiences to generate roughly $18.3 million in income – the determine enticing sufficient to see the acquisition accomplished as agreed.