CVC Capital Partners is set to acquire a majority stake in Dream Games, the Istanbul-based mobile gaming studio known for its hit game, Royal Match. This transaction values Dream Games at around $5 billion, as reported by Reuters.

The deal will allow CVC to buy out the company's early venture capital investors, making it the sole equity partner. It also involves debt financing from Blackstone-managed funds and other institutional lenders. The acquisition is pending regulatory approvals and is anticipated to finalize in the third quarter of 2025.

While specific financial details and the exact stake size have not been disclosed, both CVC and Dream Games expressed their commitment to enhancing the studio's product development. Their partnership aims to create new titles that capitalize on the global success of Royal Match, which is touted as the highest-grossing puzzle game in the world.