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DoubleDown agrees to acquire WHOW Games for up to €65m

Deals & M&A

DoubleDown Interactive signed a definitive agreement to acquire German social casino developer WHOW Games from Azerion Tech Holding. The deal values WHOW at €55m, with up to €10m in earn-out payments tied to performance over two years. DoubleDown expects the acquisition to close in Q3 2025.

The proposed acquisition would add a German social casino developer to DoubleDown’s business.

End-of-day close DoubleDown Interactive (DDI), USD, to 22 August 2025
Story date27 May 202522 August 2025

Latest reported results

DoubleDown Interactive Nasdaq: DDI

Period ended 30 June 2026

Revenue
USD 94.3m

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Deals & M&A

Capula takes €65 million positions in CIRSA-Lottomatica merger

Capula Investment Management has taken positions in CIRSA and Lottomatica ahead of their proposed merger, reportedly seeking to benefit from a difference in their share prices and the exchange value. Its declared CIRSA exposure is about €30 million, while its short position in Lottomatica is valued at about €35 million; the integration is planned for Q2 2027, subject to approvals.

Capula Investment Management has reportedly taken positions in CIRSA and Lottomatica ahead of their planned merger. The arbitrage strategy seeks to benefit from differences between the companies' share prices and the value resulting from the deal.

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