Austin, Texas, Feb 10 — Haveli Investments, L.P. (“Haveli” or “Haveli Investments”), a technology and gaming-focused private equity firm, today announced that it has entered into an agreement to acquire Budge Studios, a leader in digital interactive entertainment for children, from General Atlantic, a leading global investor. Creating positive and meaningful experiences to inspire kids’ imaginations, Budge Studios is entrusted by, and collaborates with, the world’s most recognized brands in children’s entertainment, including Bluey, PAW Patrol, Barbie, Disney’s Frozen, Hot Wheels and Hello Kitty. Terms of the transaction were not disclosed.
Based in Montreal, Canada, Budge Studios was among the first companies to bring recognized children’s brands to mobile platforms, developing safe, creative and educational apps. Budge Studios has established itself as a leader in children’s entertainment with over 2 billion downloads across its portfolio of mobile games, which have been enjoyed by families in over 200 countries, setting a global standard for quality, safety and innovation.
Ophir Lupu, Senior Managing Director at Haveli Investments, said: “As children’s entertainment content increasingly shifts toward mobile platforms, Budge Studios has built a category leading company supported by a growing global customer base and a highly capable management team. We are excited to partner with Budge Studios to build on its gaming expertise, support the expansion of its portfolio and continue delivering innovative play experiences to audiences worldwide.”
Michael Elman, Budge Studios Co-Founder and Co-Chief Executive Officer, stated: “Sixteen years ago, when kids’ apps were still a novel idea, we set out to build the kind of mobile experiences we wanted for our own young families – safe, high-quality, and genuinely engaging. Reaching this moment in Budge Studios’ evolution is both humbling and deeply meaningful for us. Haveli’s investment provides not only additional capital, but strategic support to accelerate our long-term vision, expand our portfolio, and continue building new play experiences for families as demand for fresh and exciting content continues to grow.”
David Lipes, Budge Studios Co-Founder and Co-Chief Executive Officer, commented: “Haveli’s collaborative approach and experience working with founder-led teams make them an ideal partner for Budge. We’re grateful for our partnership with General Atlantic and excited to work with Haveli as we continue to scale the business. Our long-standing licensing relationships and strong creative culture – built while remaining at the forefront of kids’ digital entertainment – give us great confidence as we continue inspiring creativity and imagination in children everywhere.”
Frederick Robson, Vice President at General Atlantic, said: “It has been a privilege to partner with Budge Studios and support Mike and Dave’s longstanding vision around bringing innovation, adventure and education to interactive content. This transaction reflects the strong foundation and momentum the Budge Studios team has built through a diverse portfolio of games beloved by families globally. We wish them well in their next chapter with Haveli.”