‘Royal Match’ Game Maker Raises $2.5 Billion in CVC-Led Round

Dream Games, a mobile gaming studio that makes the Royal Match smartphone game, has raised about $2.5 billion in debt and equity in a deal that will make private equity firm CVC Capital Partners its sole equity investor.

CVC confirmed that it had bought out the earlier venture capital investors, without providing financial terms, in a statement on Thursday. Funds managed by Blackstone Inc. provided debt financing in the deal, according to the statement.

The $2.5 billion deal values the Turkish company at $5 billion, a person familiar with the matter said. Bloomberg had previously reported that Dream ...