Global law firm Hogan Lovells has acted as legal adviser to Azerion Group N.V., a leading digital entertainment and media platform based in the Netherlands, in connection with its sale of Whow Games GmbH to U.S.-based DoubleDown Interactive Co., Ltd.

Transaction Overview

The transaction involves the sale of 100% ownership of Whow Games GmbH, a Hamburg-headquartered publisher of social casino games. The agreed purchase price includes an initial cash consideration of EUR 55 million (approximately USD 60.5 million), with an additional earn-out component of up to EUR 10 million. The latter is contingent on Whow Games achieving specific performance milestones post-acquisition.

This deal marks a strategic step for Azerion as it continues to streamline its portfolio and enhance operational focus across its core media and advertising services in Europe.

Strategic Fit for DoubleDown Interactive

For DoubleDown Interactive—a prominent developer and publisher of digital games across mobile and web platforms—the acquisition signals a clear commitment to expanding its footprint in Europe, particularly in the German-speaking market. The integration of Whow Games is expected to accelerate growth and strengthen its presence in the European social casino segment.

Legal Counsel and Multijurisdictional Team

Hogan Lovells assembled a cross-border team of legal experts to support Azerion throughout the transaction lifecycle, spanning corporate law, taxation, antitrust, and data privacy compliance. The firm’s ability to coordinate seamlessly across jurisdictions highlights its global capacity and sector-specific insight.

The advisory team included:

Corporate / M&A – Germany:

• Dr. Tobias Kahnert (Partner, Munich – Lead)

• Hannah Wohlfarth, Dr. Vincent Ziller, Joshua Naumann (Associates – Munich / Frankfurt)

Tax – Germany:

• Dr. Ingmar Dörr (Partner, Munich)

Data Privacy – Germany:

• Dr. Stefan Schuppert (Partner, Munich)

Antitrust – Germany:

• Dr. Christoph Wünschmann (Partner), Dr. Dennis Cukurov (Senior Associate, Munich)

Corporate / M&A – Netherlands:

• Danielle du Bois-Buné (Partner, Amsterdam)

• Chantalle Schoegje (Senior Associate)

• Quint Verboven (Associate)

Hogan Lovells: Legal Precision with Global Reach

Hogan Lovells continues to advise global clients at the intersection of business transformation, legal complexity, and regulatory frameworks. With more than 2,800 lawyers across five continents, the firm delivers precise, practical legal solutions backed by industry-specific depth in sectors such as technology, media, financial services, energy, life sciences, and mobility.

Reflecting on the transaction, the firm emphasised its commitment to helping clients execute transformative decisions:

“At Hogan Lovells, we turn complexity into clarity. Our multi-disciplinary, cross-border approach ensures our clients are positioned to lead in their industries.”

About the Parties

Azerion Group N.V.

Founded in 2014 and listed on Euronext Amsterdam (AZRN), Azerion is one of Europe’s foremost digital advertising and entertainment media platforms, offering content, technology, and monetisation services across multiple markets.

Whow Games GmbH

Based in Hamburg, Germany, Whow Games specialises in social casino games optimised for both browser and mobile platforms, with a strong market presence across Europe.

DoubleDown Interactive Co., Ltd.

Headquartered in Seattle, WA, DoubleDown is an established global player in digital gaming, particularly known for its mobile and online casino-style gaming offerings.