Announcement • Apr 28

DoubleUGames Co., Ltd. (KOSE:A192080) entered into a non-binding expression of interest to acquire remaining 32.95% stake in DoubleDown Interactive Co., Ltd. (NasdaqGS:DDI) for approximately $180 million.

DoubleUGames Co., Ltd. (KOSE:A192080) entered into a non-binding expression of interest to acquire remaining 32.95% stake in DoubleDown Interactive Co., Ltd. (NasdaqGS:DDI) for approximately $180 million on April 27, 2026. A cash consideration valued at $11.25 per share will be paid by DoubleUGames Co., Ltd. As part of consideration, an approximately $184 million value is paid towards common equity of DoubleDown Interactive Co., Ltd. Each ADS represents one-twentieth (1/20) of one DDI common share. The offer price equals the 52-week high price of DDI's ADSs on the NASDAQ Global Select Market and represents, a premium of approximately 22.4% over the DDI ADS closing price on April 27, 2026. Upon completion of the Transaction, DDI would be a wholly owned subsidiary of DoubleU Games. The Transaction is expected to generate significant benefits for both companies and their stakeholders, as it would (i) Enable full strategic and operational integration of the DoubleU Games group, unifying the product, technology, and live operations teams across the combined social casino portfolio; and (ii) Consolidate financial resources of DoubleU Games and DDI into a single balance sheet, allowing the Company greater flexibility to allocate capital toward new content, new game genres, and value-creating acquisitions. The Transaction will be fully funded through available cash and committed financing and will not be subject to any financing condition. DDI's Board of Directors will form a special committee of independent directors to consider our proposal. DoubleU Games will not proceed without the recommendation of such special committee, acting independently and in accordance with its fiduciary duties and the execution of a mutually agreed definitive agreement. The Transaction will be subject to customary closing conditions, including: (i) the affirmative vote of at least 95% of DDI's outstanding common shares, including a majority of votes cast by shareholders other than DoubleU Games; and (ii) receipt of all required regulatory clearances. DoubleU Games has engaged Paul Hastings LLP and Kim & Chang as its U.S. and Korean legal advisors, respectively, in connection with the Transaction.

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DoubleUGames Co., Ltd. (KOSE:A192080) entered into a non-binding expression of interest to acquire remaining 32.95% stake in DoubleDown Interactive Co., Ltd. (NasdaqGS:DDI) for approximately $180 million.

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