A leading digital games developer and publisher, DoubleDown Interactive, announced that it has entered a Share Purchase Agreement for the acquisition of SuprNation, a Swedish iGaming provider of exclusive gaming experiences. The deal involves cash considerations for approximately $35 million and is subject to the final 2022 financial review.
DoubleDown Interactive has many years of experience in online gaming. It is the creator of interactive entertainment experiences for players around the world, providing them with Vegas entertainment through an online social casino experience. With the soon acquisition of the Swedish technology company, the developer expects to attract new users and improve existing services, as well as to develop new ones by balancing the versatile library of casino 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,” said 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 real money gaming foothold:
Joakim Stockman and Henric Andersson, Co-Chief Executive Officers of SuprNation said: “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 purchase agreement is expected to be closed within the second quarter of 2023, following regulatory approvals. Once the deal is closed, SuprNation will be a direct, wholly-owned vertical of DoubleDown Interactive LLC. The technology company with a strong European presence and with gaming licenses in jurisdictions including Sweden, Great Britain, and Malta will enable the renowned gaming company to access SuprNation’s broad customer base and improve common operations for the benefit of both entities.
January through September 2022, this customer base engaged in SupNation’s mobile casino experiences to generate approximately $18.3 million in revenue – the figure attractive enough to see the acquisition completed as agreed.