IGT Agrees to Purchase iSoftBet
International Game Technology, a well-respected New York-based iGaming content provider, has announced the deal to acquire iSoftBet. The purchase will cost €160m in cash, with the acquisition expanding IGT’s game portfolio significantly. Its library is expected to grow more than twice upon buying the prominent provider. In numbers, the portfolio is about to contain around 225 in-house developed games, obtaining a game aggregation platform in the process. It is to help the enterprise distribute user engagement tools and third-party content. The acquisition will mean a new life for the company, providing numerous possibilities for everyone.
The job is expected to be finished in Q2 2022 upon determining customary closing conditions. Both companies’ representatives undoubtedly expect a lot from this deal. IGT CEO Vince Sadusky has noted the agreement will boost PlayDigital’s position in the market. With a top-class content portfolio in Europe and North America, IGT also offers cutting-edge technology to the whole community. Punters will be fascinated by the assortment of hit games from iSoftBet provided to them. The New York-listed company is about to make another successful business move. The transaction is anticipated to bring many benefits to everyone involved.
Additionally, iSoftBet collected a €30m revenue throughout the last year, with an EBITDA of €8m. The firm currently has 125 in-house releases and 4,600+ third-party titles obtained via the platform. The primary locations are in England, Romania and Malta, with 350 employees and contractors. Moreover, the enterprise has 260 business partners, with the releases certified by multiple prominent regulators. iSoftBet has nurtured an impeccable reputation, creating a foundation for new business opportunities and clients. The passion, respect and curiosity this firm is famous for will move other business deals forward.
Furthermore, IGT looks to maintain its prevalence in the iGaming sector by delivering responsible and regulated gaming experiences. The company has grown for years by providing unmatched solutions in the field. Investing in innovation and developing great content makes it possible for the enterprise to stay on top. It utilizes state-of-the-art technology, player insights and expertise to drive growth and provide top-notch solutions. IGT has maintained a fascinating local presence and excellent relationships with clients, regulators and governments. The entire team of 10,000+ employees adheres to the highest integrity, responsibility and service standards. The whole company is confident the best is yet to come with the latest deal.
Many respectable companies are making sure the deal goes through as planned. One of the leading financial advisors to IGT is Oakvale Capital LLP, with KPMG LLC as its tax and financial due diligence advisor. Wachtell, Lipton, Rosen and Katz is to be another advisor to IGT. On the other hand, Wiggin LLP and M.Firon & Co will advise iSoftBet. IGT agreed to sell its PostePay business in February 2022 for $700m. Both enterprises look to affirm their further growth and cement their market-leading positions in this sector with the new deal.
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