The show from the magician duo is distributed by DCD Rights, which struck the Universal deal.
The show was originally commissioned by UK commercial broadcaster ITV and also airs on US broadcast net The CW.
In Penn & Teller Fool Us, aspiring magicians try and fool Penn & Teller with their best tricks.
The show is made by September Films, which is part of the DCD group, and 1/17 Productions.
Nicky Davies Williams, CEO at DCD Rights, said: “We’re delighted to have secured a pan-Asia sale through Universal Channel, magic shows like Penn & Teller resonate well in this region.”