DoubleU Video Games Expands Its Horizon with the Acquisition of Paxie Video Games for Up to $67 Million
DoubleU Video Games has purchased Turkish studio Paxie Video Games for an amount potentially reaching $67 million.
The South Korean enterprise has secured a 60% share in the Merge Studio: Style Makeover developer for $27 million.
The remaining 40% will be obtained over the coming three years for up to $40 million, according to Pocket Gamer.
The transaction will be funded through cash and treasury shares, and is projected to conclude in the initial quarter of 2025.
“We believe that acquiring Paxie Games is a strategic step towards expanding our portfolio with new mobile gaming titles, facilitating growth and unveiling new opportunities,” stated DoubleU Video Games CFO Jay Choi.
Paxie Video Games CEO Direnç Çelik expressed: “With our comprehensive partnership with DoubleU Games, we are poised to achieve even greater heights.”