Intertain is attempting to acquire the entire capital share of Dumarca Holdings Limited, the parent company of Vera&John. The initial amount being put up will be €44.5 million in cash, and €36.5 million in Intertain common shares. Additional considerations will be paid out if Vera&John reaches certain earnings thresholds in 2015 and 2016.
If all of the objectives are met, Intertain may end up paying out in excess of €89.1 million.
Commenting on the acquisition Intertain CEO John Kennedy FitzGerald said, “Vera&John has developed and owns a fully-integrated, proprietary software offering, giving us future flexibility with respect to our business."
“Vera&John also has a mobile platform, including a leading mobile casino, with 35% of their expected 2014 sales being generated through this growing medium. We are very excited about this transaction and feel both parties bring excellent value going forward. “
Vera&John is a Malta casino that offers its services to 11 different countries through the sites Vera&John, Vera&Juan, and Vera&John Social. For its part Intertain offers a series of betting products including InterCasino, Costa, InterPoker, and more.