Partis has acted as buy-side advisors for DoubleDown in their purchase of Malta-based iGaming operator SuprNation. The $35 million (€33 million) transaction represents a rare example of a social gaming business moving into real money gaming, a strategic initiative that Partis were instrumental in supporting.
DoubleDown Interactive is NASDAQ listed business, delivering unique gaming experiences for players across a variety of genres. SuprNation is a European-based i-Gaming company providing a series of gamified casino products to customers in various regulated markets.
The acquisition complements DoubleDown’s existing social gaming portfolio – which includes the flagship title DoubleDown Casino, which, on a monthly basis, entertains millions of players worldwide – and exposes the company to new growth markets.
Michael Campbell, of Partis commented “it was a pleasure to advise DoubleDown on this important transaction, their first acquisition since IPO. The deal marks an exciting strategic move for the company and forms an important component of their diversification and growth objectives. We are convinced by the commercial rationale of the deal and look forward to seeing what the combined businesses can do over the coming years.”
In Keuk Kim, Chief Executive Officer of the DoubleDown said that “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.”
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.”
This all-cash acquisition is expected to close during the second quarter of 2023.
For further information relating to Partis’ M&A advisory services, contact Michael Campbell on email@example.com