The online gaming industry is one of the fastest-growing sectors in the world, and DoubleDown Interactive is determined to stay on top of its competition. The company recently announced that it has entered into a deal to acquire SuprNation for approximately $35 million (€33 million). This agreement is subject to a final financial review. So what does this acquisition mean for DoubleDown Interactive?
SuprNation is a social media company that operates in the online gaming and entertainment industries. The company was founded in 2006 by two entrepreneurs, Jens Scharrer and Stefan Kühn, who saw the potential for the online gaming industry to grow into a major force in the social media landscape.
SuprNation has since then become a leading provider of social games and entertainment, with a portfolio of popular titles such as “DoubleDown Casino”, “Bingo Blitz”, and “Slotomania”. The company also offers a platform for third-party developers to create and distribute their own social games.
The acquisition of SuprNation by DoubleDown Interactive will allow the latter to expand its reach in the online gaming and social media industries. This will also give DoubleDown access to SuprNation’s team of experienced professionals, who will help contribute to the growth of both companies.
What is DoubleDown Interactive?
DoubleDown Interactive is a subsidiary of International Game Technology PLC (NYSE: IGT), the world’s leading end-to-end gaming company. DoubleDown Interactive develops and distributes digital games and services, including the popular DoubleDown Casino & Slots app for social casino fans worldwide.
The acquisition of SuprNation will expand DoubleDown Interactive’s portfolio of best-in-class casino and slot games, and significantly grow its international presence. SuprNation is a fast-growing games studio based in Malta with a strong focus on developing innovative, high-quality online slots games.
The transaction is expected to be completed in Q4 2018, subject to customary closing conditions.
The agreement between the two companies
DoubleDown Interactive has entered into an agreement to acquire SuprNation subject to a final financial review. The acquisition is expected to be completed in the first quarter of 2023, and is subject to customary closing conditions.
This acquisition will expand DoubleDown’s portfolio of casino-style games and deepen its presence in Europe. SuprNation’s flagship product, Casino Joy, is a leadingcasino-style game in the United Kingdom and Sweden with a growing player base in other European countries. The game features a rich set of table games and slots, and offers players an immersive and entertaining experience.
With this acquisition, DoubleDown will add new capabilities and expertise to its team, including a strong presence in Europe and a successful track record in building and scaling digital businesses. In addition, SuprNation’s co-founders Fredrik Ljungberg and Joel Wikell will join DoubleDown as part of the transaction.
What does this mean for SuprNation?
The acquisition of SuprNation by DoubleDown Interactive will have a number of implications for the company. First and foremost, it will mean an expansion of DoubleDown’s portfolio of products and services. Additionally, it will allow DoubleDown to enter into new markets and geographical regions. Finally, the acquisition will provide DoubleDown with a talented team of employees who can help to drive the company forward.
What does this mean for DoubleDown Interactive?
This acquisition is a great opportunity for DoubleDown Interactive to expand its portfolio of games and reach a new audience of players. SuprNation is a well-established company with a strong track record in developing and publishing all British casino mobile games. This acquisition will allow us to tap into their expertise and grow our business in the fast-growing mobile gaming market.
This acquisition by DoubleDown Interactive of SuprNation is a natural step in the growth of both companies, allowing them to grow their presence in the mobile gaming space. This new collaboration will provide a larger platform for both companies and allow them to increase their market share. It will also open up opportunities for innovation and expansion that each company would not have had on its own. We are excited to watch this partnership unfold over the next few years as they leverage one another’s strengths and create amazing experiences together!