DoubleDown Interactive Enters into Share Purchase Agreement to Acquire i-Gaming Operator, SuprNation
11 Gennaio 2023 - 2:00PM
DoubleDown Interactive Co., Ltd. (NASDAQ: DDI) (“DoubleDown” or the
“Company”), a leading gaming company, delivering unique player
experiences across a variety of genres, today announced that the
Company has entered into a Share Purchase Agreement (the
“Agreement”) to acquire SuprNation AB, a Swedish limited liability
company (“SuprNation”) for cash consideration of approximately $35
million(1) (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.
SuprNation Highlights
- Unaudited preliminary revenue for the nine months ended
September 30, 2022 of approximately $18.3 million based on
management’s estimates
- Strong presence in certain regulated European markets with
gaming licenses in jurisdictions including Sweden, Great Britain,
Malta and the Isle of Man
- Flagship title, Duelz.com, offers real money gaming with unique
peer-to-peer gamification and social features that improve
monetization and engagement
- Established relationships with acquisition channels that are
expected to facilitate favorable acquisition costs
- Significant synergy opportunities with DoubleDown expected
through leveraging marketing, technology and gaming content, back
office in-sourcing and potential native Apple/Android app
development
Based on its many years of experience in online
gaming, the Company expects to leverage its expertise in acquiring
new users through performance marketing, improve existing services
using its extensive software engineering and DevOps capabilities,
and enhance existing services as well as develop new ones by
leveraging its broad portfolio of casino game content.
“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 the Company.
“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.”
Joakim Stockman and Henric Andersson, Co-Chief
Executive Officers of SuprNation commented, “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 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. Following the closing,
SuprNation will be a direct, wholly-owned subsidiary of DoubleDown
Interactive LLC, a wholly-owned U.S. subsidiary of the Company. If
the closing conditions are not satisfied or waived prior to nine
months after execution of the Agreement, then either the sellers or
the Company may terminate the Agreement.
Note: (1) Based on an exchange rate of €1=$1.0514
as of January 6, 2023.
About DoubleDown
InteractiveDoubleDown Interactive Co., Ltd. is a leading
developer and publisher of digital games on mobile
and web-based platforms. It is the creator of
multi-format interactive entertainment experiences for casual
players, bringing authentic Vegas entertainment to players around
the world through an online social casino experience. DoubleDown’s
flagship title, DoubleDown Casino, has been
a fan-favorite game on leading social and mobile
platforms for years, entertaining millions of players worldwide
with a lineup of classic and modern games.
About SuprNation AB
Based in Malta, SuprNation is a technology
company founded in 2015 to serve as a home for some of the most
competent and creative people in the iGaming industry. SuprNation’s
platform offers mobile casino experiences with clean and robust
code, and simple and functional design.
Forward-Looking Statements
This press release contains forward-looking
statements relating to, among other things, the Company’s
expectations related to the total consideration, timing, and
closing of the acquisition of SuprNation and its ability to achieve
the intended benefits of the acquisition; and the Company’s future
economic performance and its ability to achieve financial
projections. Forward-looking statements often include words such as
“outlook,” “projected,” “intends,” “will,” “anticipate,” “believe,”
“target,” “expect,” and statements in the future tense are
generally forward-looking. The achievement or success of the
matters covered by such forward-looking statements involves
significant risks, uncertainties and assumptions, including those
described in the Company’s public filings with the SEC, copies of
which may be obtained by visiting the Company’s Investor Relations
web site or the SEC’s website at www.sec.gov. The Company’s actual
results could differ materially from those predicted or implied and
reported results should not be considered as an indication of its
future performance. Factors that could cause or contribute to such
differences include, but are not limited to, delays or other
challenges in the completion of the SuprNation acquisition and its
integration and the success of its current and future games as part
of the Company. Undue reliance should not be placed on such
forward-looking statements, which are based on information
available to the Company on the date hereof. the Company assumes no
obligation to update such statements.
Company Contact:
Joe Sigristir@doubledown.com+1
(206) 773-2266Chief Financial
Officerhttps://www.doubledowninteractive.com
Investor Relations Contact:
Cody Slach or Jeff Grampp, CFAGateway
Group1-949-574-3860DDI@gatewayir.com
Grafico Azioni DoubleDown Interactive (NASDAQ:DDI)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni DoubleDown Interactive (NASDAQ:DDI)
Storico
Da Giu 2023 a Giu 2024