DoubleDown (DDI) entered into a Share Purchase and Transfer Agreement with Azerion Tech to acquire WHOW Games, a social casino developer headquartered in Hamburg, Germany. The initial consideration for 100% ownership interest in WHOW Games is EUR55M, or $64.7M. An additional earn-out payment of up to EUR10M, payable to Azerion at EUR 5M annually, is contingent upon WHOW Games meeting certain performance targets during each of the first and second year following the closing date. The acquisition will be financed through DoubleDown’s cash reserves and is expected to close during Q3. WHOW Games 2024 revenue was EUR41.8M.
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