DoubleU Games has announced the acquisition of Paxie Games in a deal that could reach $67 million

South Korea's DoubleU Games has agreed to purchase Turkish game creator Paxie Games for as much as $67 million.

The agreement allows DoubleU Games to secure a 60% ownership of Merge Studio: Fashion Makeover's developer with an initial investment of $27 million.

Acquisition of the remaining 40% will take place over a span of three years for an amount that could reach $40 million, as detailed by Pocket Gamer.

This acquisition will be supported by a combination of cash reserves and existing shares, with the closure anticipated in early 2025.

CFO Jay Choi of DoubleU Games expressed confidence, saying, "Acquiring Paxie Games marks a vital initiative in enriching our catalog with fresh mobile game selections, propelling growth, and unveiling new prospects."

Paxie Games' CEO Direnç Çelik commented: "Our comprehensive partnership with DoubleU Games will allow us to expand with captivating game offerings, engage a wider audience, and boost our business overall."

Çelik further emphasized, "Utilizing DoubleU Games' robust marketing channels in the United States, we anticipate meaningful growth and broader market presence."