DoubleU Games to Acquire DoubleDown Interactive for $305.33 Million

DoubleU Games Co., Ltd. entered into a merger agreement on November 9, 2026, to acquire DoubleDown Interactive Co., Ltd. (DDI), in a deal valued at $305.33 million.

Deal Structure:

DoubleU Games will commence an all-cash tender offer to acquire all outstanding American Depositary Shares (ADS) of DoubleDown (each representing one-twentieth (1/20) of one DoubleDown common share) for $16.25 per ADS in cash, representing a premium of 19.66% over the stock’s last close.

Company Profile:

DoubleDown Interactive is a South Korean gaming company that develops and publishes social casino games and operates real-money iGaming platforms across the US and Europe. Its portfolio includes DoubleDown Casino, DoubleDown Classic, WHOW Games, and online casino brands such as Duelz and VoodooDreams.

DoubleU Games is a South Korean mobile and online gaming company headquartered in Seoul, engaged in developing and operating social casino and casual games, including DoubleU Casino and Take5.

Deal Details and Timeline:

In April, DoubleU made an offer of $11.25 per ADS in cash, representing an aggregate value of roughly $184 million. The stock was trading at $9.19 when the offer was made.

DoubleU Games currently holds roughly 67.05% of DoubleDown’s outstanding common shares.

Kroll and Kroll Securities provided financial advisory services to DoubleDown, while Ropes & Gray, Law Firm Goodplan, Greenberg Traurig, and Bae, Kim & Lee served as its legal advisors. Paul Hastings and Kim & Chang acted as DoubleU’s legal advisors.

DoubleU intends to finance the offer using cash on hand and funds from a bridge loan facility of up to KRW 300 billion (~$223 million) provided by Korea Investment & Securities.

The deal values DoubleDown at 1.03 times its EBITDA.

Deal Metrics:

Further details about this merger and acquisition can be found on the Deal Metrics page here:

Deal Metrics for the acquisition of DoubleDown Interactive Co., Ltd. (DDI) by DoubleU Games Co., Ltd.

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• A history of deal updates.
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Editor’s Note: Baranjot Kaur contributed to this article