Internet betting firm GTech Interactive Limited has announced that it has finalized its deal with mobile betting software developer Probability plc, securing the firm for a £18 million consideration.
As a result of the deal, Probability will now operate as a subsidiary of Gtech UK, and will continue to develop casino games on its mobile platform.
Commenting on the deal Gtech S.p.A President of Products and Services Renato Ascoli said: “With the mobile gaming market poised for significant growth over the next several years, we view the acquisition of Probability as a logical stepping stone for advancing our mobile gaming strategy both Internationally and in the U.S., particularly for new and existing WLA customers and commercial customers. Probability’s unique content service offerings and its exclusive game development and management platform will further advance our mobile strategy.”
Probability CEO Charles Cohen added: “This acquisition will facilitate the immediate pooling of knowledge and expertise currently within GTECH and Probability, allowing us to accelerate deployment of existing game technology into the mobile market as well as pursue cross-selling opportunities. The combination of GTECH’s global presence coupled with the market efficacy of our integrated solutions will position us to take advantage of Gaming 2.0 – the next critical phase of the gaming market characterized by the dominance of mobile.”