It is a pleasure to inform you that Seattle-based game studio, Double Down Interactive, makers of DoubleDown Casino, one of the most-popular and fastest-growing games on Facebook in 2011, has been acquired for $500 million by leading gaming company, International Game Technology (NYSE: IGT).

The announcement from IGT came after an impressive year for the makers of DoubleDown Casino, which attracted more than 1.4 million active daily players by the end of 2011. In fact, Facebook ranked DoubleDown Casino as the #4 most popular game on its top games of 2011 list. DoubleDown Casino currently has 4.7 million people playing games in their casino each month.

The total consideration includes $250 million in cash, $85 million in retention payments over the next two years and up to $165 million in cash payable over the next three years subject to Double Down meeting certain financial performance targets. IGT expects to fund the transaction from cash on hand.

With backing from IGT, DoubleDown Casino plans to release more games for social and mobile. They are also hiring for several positions for their Seattle office located in the Union Station Building. Presently, Double Down Interactive has 70 full-time employees and has more than 10 positions available as the company plans to continue its hiring spree.

Click Here for Open Positions at Double Down Interactive

NVPR introduced the two parties with the Raine Group and Davis Wright Tremaine finalizing the transaction.