Technology and gaming-focused private equity firm Haveli Investments has entered into an agreement to acquire Budge Studios from General Atlantic. The transaction terms were not disclosed.

Montreal-based Budge Studios develops mobile applications for children featuring brands including Bluey, PAW Patrol, Barbie, Disney's Frozen, Hot Wheels and Hello Kitty. Ophir Lupu, Senior Managing Director at Haveli Investments, noted the shift of children's entertainment content toward mobile platforms and the company's customer base and management team. Co-founders and Co-Chief Executive Officers Michael Elman and David Lipes stated the acquisition provides capital and strategic support for portfolio expansion. The transaction provides resources as mobile content demand continues growing.

Baker Tilly US, LP served as tax and diligence advisors to Haveli, while Latham & Watkins LLP and Davies, Ward, Phillips & Vineberg LLP provided legal counsel. The Raine Group acted as exclusive financial advisor to Budge Studios and General Atlantic. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Goodmans LLP served as legal counsel to General Atlantic.