DoubleDown Interactive announced that the Company has entered into a Share Purchase Agreement to acquire SuprNation AB, a Swedish limited liability company, for cash consideration of approximately $35 million (or €33 million), on a cash free and debt free basis and subject to final 2022 financial review. SuprNation is a European-based i-Gaming company providing differentiated casino gaming experiences.
“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. 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,” In Keuk Kim, Chief Executive Officer of DoubleDown Interactive, 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,” Joakim Stockman and Henric Andersson, Co-Chief Executive Officers of SuprNation, said.
This all-cash acquisition is expected to close during the second quarter of 2023, subject to satisfaction or waiver of certain customary closing conditions, including without limitation, certain regulatory approvals.