Korea Business News Agency - NSP NEWS.

(Seoul=NSP NEWS AGENCY) = Game company DOUBLEUGAMES announced that it has completed the acquisition agreement for Turkish casual game developer Paxie Games.

As for the acquisition structure, about KRW 39.4 billion($27 million) will be paid in cash and treasury stocks for a 60% stake. The remaining 40% stake will be acquired in stages over the next three years based on revenue growth and profitability. All of the purchase consideration is payable in equity.

The transaction, which has been under due diligence since September, is expected to close in the first quarter of 2025, subject to approval by the Turkish Competition Authority Board.

Through this acquisition, DOUBLEUGAMES will also make a full-fledged entry into the global casual genre.

By Soon-ki Lee(s8789@nspna.com) and Bok-hyun Lee(bhlee2016@nspna.com)

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