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

NCsoft Invests in Indygo

Korean games publisher NCsoft is significantly expanding its presence in the casual mobile market following a major investment in Singapore...

Investments

Dec 24, 2025

Tencent Invests in Drama Studios

Tencent has acquired a minority stake in French game developer Drama Studios, strengthening its presence in the global games market...

Investments

Dec 17, 2025

Midwest Games Secures $2m

Midwest Games, a rising game publisher headquartered in Wisconsin, has secured a fresh $2 million investment to expand its efforts...

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Sep 24, 2025

A16Z Speedrun Fund Announced

Andreessen Horowitz’s startup accelerator, A16Z Speedrun, has officially launched the application window for its sixth cohort, inviting early-stage startups to...

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Sep 03, 2025

Studio Atelico Secures $5m

Atelico has raised $5 million in seed funding to power its ambitious plans to integrate generative AI directly into game...

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