Habbo owner Azerion raises $242 million to finance more game acquisitions

Online social gaming and entertainment platform Azerion has raised €200 million ($242 million) to realize its growth plans. 

Azerion secured the cash by refinancing a €100 million bond issued on the Frankfurt exchange last year, and said the funds will be used to "finance multiple acquisitions across its platform," with a specific focus on adding new gaming content and "creating revenue opportunities."

The news comes a few months after Azerion fully acquired Habbo developer Sulake, and a couple of years after it purchased Spil Games' mobile games division. The company also recently cut the ribbon on a new business and game development campus in Helsinki.

"The gaming business represents a total annual market of $175 billion. We’re well on our way to becoming the biggest platform in Europe with our vision to serve that market," said Azerion co-CEO, Atilla Aytekin. 

"Our goal is to create a safe, connected and intelligent ecosystem (enabled through our technology) that will accelerate the growth of European companies connected to our operations."