Who are they?SuprNation is a privately owned Swedish business which operates the Duelz.com brand and offers real-money online gambling under licences held in Great Britain, Sweden, Malta and the Isle of Man.
DoubleDown is a Nasdaq-listed developer of online and mobile free-to-play games, which it offers to players through its DoubleDown Casino brand, among others.
According to a statement provided by DoubleDown, Duelz.com offers unique peer-to-peer gamification features and boasts established relationships with acquisition channels, which are expected to allow for favourable customer acquisition costs.
The firm suggested that affiliate marketing will make up a significant part of SuprNation’s customer acquisition strategy going forwards.
Acquiring the company will further provide DoubleDown with “significant synergy opportunities,” it added, by leveraging its marketing, technology and gaming content, as well as back office in-sourcing and native mobile app development.
Terms of the deal
The acquisition, set to take place on a debt-free, cash-free basis, is valued at $35m subject to a final review of the target company’s 2022 financial performance.
SuprNation generated approximately $18.3m in revenue during the first nine months of 2022 according to unaudited preliminary results.The acquisition is expected to close during Q2 this year, subject to certain customary closing conditions.
On completion, SuprNation will become a wholly owned subsidiary of DoubleDown Interactive.
What they said
“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 DoubleDown CEO In Keuk Kim.
“The acquisition of SuprNation increases our presence in the European iGaming 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.”
Suggesting the potential for further acquisitions in the future, Kim added: “As we evaluate inorganic growth opportunities, we will continue to focus on gaming businesses that offer clear synergies with our existing strengths.”
Meanwhile SuprNation co-CEOs Joakim Stockman and Henric Andersson wrote: “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.”