Amsterdam, 9 July 2025 – Azerion, a leading European digital advertising platform, today announces the sale of its subsidiary Whow Games, the lion’s share of its Premium Games segment, to DoubleDown Interactive, part of South Korea-based DoubleUGames, for a total consideration of €65 million. The deal consists of an upfront payment of €55 million and an earn-out of up to €10 million, subject to customary adjustments.
The transaction marks another significant step in Azerion’s strategy, a journey the company has been on for some years now, reinforcing digital advertising as the company’s core business. In addition, Azerion continues to expand into cloud infrastructure and AI-driven solutions.
The sale follows a series of portfolio optimisations, including the divestment of its social card games portfolio in 2023 for €81.3 million. With a strong position as one of Europe’s most innovative players in digital advertising, Azerion is now also addressing growing European demand for scalable cloud and AI alternatives to large US providers. After more than 10 years of developing AI software and cloud services for its own use, Azerion is now offering these services to clients. This puts it in markets where many European companies are currently seeking an alternative to the American tech giants.
Founded in the Netherlands in 2014, Azerion has grown into a major player in digital advertising through a series of strategic acquisitions. Listed on Euronext Amsterdam since February 2022, the company generated €551 million in revenue in 2024, up 7% year-on-year. Revenue guidance for 2025 is in the range of €600–650 million. In Q1 2025, the company reported EBITDA growth of 68% compared to the same period last year thanks to a continued focus on efficiency and profitability.
Reinforcing digital advertising
“We are excited to take this further step to strengthen our digital advertising business.” said Sebastiaan Moesman, Chief Strategy Officer of Azerion. “This sale enables us to dedicate even more resources and attention on realizing our growth and expansion plans. We are also demonstrating once again that our investment strategy can create long-term value for our shareholders.”
Azerion recently launched Azerion Intelligence, a platform offering affordable and independent cloud hosting as well as access to a range of open-source AI tools. “Across Europe, companies and public institutions are increasingly looking to bring their data closer to home to be less reliant on one partner,” said Moesman. “While this desire is not new, we’re seeing a clear shift in priority. Organisations are now actively seeking alternatives to major cloud providers. At the same time, demand for local, cost-efficient AI services is on the rise. Azerion is well positioned to support organisations ready to take the next step in digital sovereignty.”
