South Korea's leading gaming company DoubleU Games announced the acquisition of Turkish mobile game studio Paxie Games in a deal valued at up to USD 67 million, marking its strategic entry into the rapidly growing Merge-2 gaming genre.
Under the terms of the agreement, DoubleU Games will initially acquire a 60 percent stake in Paxie Games for USD 27 million, with plans to purchase the remaining 40 percent over the next three years based on performance targets. The acquisition is expected to close in the first quarter of 2025.
Founded in 2021 in Istanbul, Paxie Games is best known for its hit title Merge Studio: Fashion Makeover, which has surpassed 25 million downloads. The game combines character makeover elements with Merge-2 puzzle mechanics, primarily targeting female audiences. According to Sensor Tower data, the studio consistently ranks among the top five companies in the Merge-2 genre.
DoubleU Games highlighted the strategic importance of the acquisition, emphasizing that it represents a key step in diversifying its portfolio and accelerating growth in new mobile gaming segments.
Paxie Games CEO Direnç Çelik expressed excitement about the partnership, noting plans to leverage DoubleU Games' established marketing network in the U.S. to drive growth and expand their global reach.