How to Acquire a Mobile Game Company in Turkey (2025 Guide with Government Incentives)
How to Buy a Mobile Game Company in Turkey in 2025 with Government Support
How to Acquire a Mobile Game Company in Turkey (2025 Guide with Government Incentives)
Turkey's mobile gaming sector is booming, and 2025 presents a unique opportunity for global investors to acquire game development studios with substantial government-backed financial incentives. In this guide, we explain why Turkey is an ideal acquisition target, how the incentives work, how to evaluate a studio, and how to structure a successful deal.
This is a comprehensive, actionable playbook for acquiring a mobile game company in Turkey — tailored for investors, publishing groups, and strategic buyers looking to tap into a fast-growing, cost-efficient, and export-oriented market
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Why Turkey’s Mobile Gaming Market Attracts Global Buyers
Rapid Market Growth
Turkey has emerged as one of the most promising mobile gaming ecosystems globally. With over 45 million gamers, a tech-savvy young population, and some of the world’s highest smartphone penetration rates, the country has become a go-to market for mobile gaming development. According to Newzoo and App Annie, Turkey consistently ranks among the top 10 countries by mobile game downloads.
Global-Ready Development Culture
Turkish studios focus heavily on the international market. They design games primarily for US, UK, Canada, Germany, and the Gulf Cooperation Council (GCC) countries, with deep knowledge of genre preferences and monetization strategies in those regions. Localization, UI/UX optimization, and lean production cycles are core strengths of Turkish mobile game studios.
Proven International Success Stories
Acquisitions and funding rounds involving Turkish studios have drawn international headlines:
Peak Games was acquired by Zynga for $1.8 billion in 2020.
Rollic Games became a subsidiary of Zynga after being acquired in 2020.
Dream Games raised over $250 million and surpassed $2.5 billion in valuation.
Loop Games, Narcade, and others are consistently in global top charts.
These exits validate the scalability and quality of Turkish gaming IP and teams.
What Government Incentives Are Available for Turkish Mobile Gaming Companies?
1. 60% Refund on International Digital Advertising
The Turkish Ministry of Trade provides a 60% reimbursement on advertising expenditures aimed at foreign user acquisition. This includes digital ads on Google, Meta (Facebook/Instagram), TikTok, Unity Ads, and influencer marketing.
Details:
Eligible expenditures: Must be for user acquisition from foreign countries
Eligible channels: Google Ads, Meta Ads, TikTok Ads, etc.
Cap: Up to USD 400,000 per year per company
Refund period: 9 to 12 months
Example: A studio spending TRY 1 million (~USD 30,000) on global UA campaigns may receive TRY 600,000 (~USD 18,000) in government refunds.
2. 50% Refund on Platform Commissions
Platform commission fees, including those charged by App Store, Google Play, or Steam, are eligible for a 50% refund.
Details:
Eligibility: Revenue must come from non-resident users
Cap: Up to USD 200,000 annually
Applicable platforms: App Store, Google Play, Epic, Steam
Example: If Apple or Google deducts TRY 150,000 as platform commission, the developer can claim TRY 75,000 as a refund.
3. Other Relevant Incentives
Trade show support: Government pays up to 70% of exhibition costs
Overseas office support: 50% refund of rent and operational expenses for foreign country representation
Localization and certification support: Expenses for translation and foreign market certification are partially refundable
Legal and Corporate Framework: What Buyers Should Know
Foreign Ownership Rules
There are no legal restrictions on 100% foreign ownership of Turkish companies. Both Limited (Ltd. Şti.) and Joint Stock (A.Ş.) companies are eligible acquisition targets.
Tax Landscape
Corporate income tax: 25% (2025 rate)
Dividend repatriation: Allowed without capital controls
No VAT on exported services (games sold abroad)
R&D zones: Studios operating in technoparks or R&D zones may be exempt from corporate income tax entirely, depending on project qualification
M&A Transaction Timeline
Initial contact to signed LOI: 1–2 weeks
Due diligence and SPA signing: 3–5 weeks
Post-closing incentive onboarding: 2–4 weeks (depends on structure)
Key Advantages for Acquirers in 2025
Strategic Entry Point Due to Currency and Talent
With the Turkish Lira trading at historically low levels, foreign buyers enjoy attractive valuations in USD or EUR terms. A studio with $1M in annual revenue can often be acquired for $2M–$4M — depending on IP ownership, profitability, and incentive eligibility.
Mature, Export-Oriented Studios
Most Turkish studios generate over 90% of their revenues from foreign users. This export-first mindset makes them naturally aligned with international monetization models, cross-platform deployment, and performance-based publishing.
Access to Ready Infrastructure
When acquiring a Turkish company, you inherit more than a team. You gain:
Local tax number and trade registry identity
Active game publisher accounts (App Store/Google Play)
Pre-validated incentive application status
Pre-existing bank accounts for local-exchange rate benefits
What to Look For in a Target Studio
Ideal Metrics:
Monthly active users (MAU) > 100,000
D30 retention > 8%
In-app purchase (IAP) revenue from Tier 1 markets
Self-published titles or previous publisher partnerships
Legal Health:
Clearly assigned IP rights
Legally enforceable employee/contractor agreements
No open tax or labor disputes
Incentive Status:
Previously granted support from Ministry of Trade or Technopark
Ongoing incentive claims (can be transferred post-acquisition)
How to Structure an Acquisition Deal in Turkey
Initial Contact: Identify the right target through local brokers or directly
NDA & Data Room Access: Review financials, user metrics, IP docs
Valuation: Common methods include revenue multiple (2–5x) or user-value-based pricing
Letter of Intent (LOI): Include key terms, earn-out models, and exclusivity
Due Diligence: Focus on IP, financials, labor contracts, tax status, and incentive eligibility
SPA Execution: Include clauses to preserve incentive continuity and potential founder retention
Trade Registry Process: Formal registration of share transfer
Post-Deal Integration: Transition incentive administration, accounting, and publisher relations
Risks and How to Mitigate Them
Risk 1: IP Ownership Ambiguity
Mitigation: Use local IP lawyers to ensure full copyright assignments exist between the company and its developers.
Risk 2: Loss of Government Incentives After Transfer
Mitigation: Notify Ministry of Trade in advance and submit re-application immediately post-closing. Use earn-out to align seller motivation.
Risk 3: Talent Retention
Mitigation: Include 6–12 month retention bonuses and equity kicker agreements for founders or lead developers.
Case Example: Hypothetical Studio Acquisition
Company A, based in Istanbul, earns $1.2M annually, mostly from two puzzle games monetized through IAP. They have 15 employees, 3 in-house developers, and prior government grants.
A US-based publisher acquires Company A for $3.2M:
$2.2M cash up front
$1M in performance-based earn-out (tied to user acquisition ROI)
The acquirer takes over the government incentive application, allowing for $500k in cost reductions over two years.
2025 Outlook: Timing Is Critical
The Turkish mobile gaming sector is poised for consolidation. With a growing number of mid-size studios reaching maturity and seeking exit opportunities, buyers with clear strategies and capital can secure high-quality assets before valuations rise.
Moreover, the Turkish government’s updated Digital Economy Master Plan (2024–2028) allocates additional funds and streamlined processes for digital content exporters, making future incentive continuity more predictable and scalable.
Work With Cross-Border M&A Experts in Gaming
Navigating an international acquisition — especially in a market with language, legal, and regulatory differences — requires local expertise. Our firm specializes in:
Target identification and outreach
Legal and tax due diligence
Incentive onboarding and verification
Talent retention and integration planning
We’ve supported acquirers from North America, Europe, and the GCC in securing valuable mobile game studios with scalable monetization models and high-quality teams in Turkey.
Looking to acquire a mobile game studio in Turkey with full access to government-backed advertising and platform commission incentives? Let’s talk.
📩 Contact our international gaming M&A advisory desk today to schedule a strategic consultation and receive access to active acquisition opportunities in Turkey's mobile gaming sector.
