This story was published more than 3 years ago.
Australian gaming group Aristocrat has announced that they've completed their purchase of Plarium Global Limited, a social gaming group.
The purchase will see Aristocrat picking up the Israeli developer for $500 million in upfront costs. The deal closed after all regulatory approvals were met. The company has made a name for itself by developing free to play social betting games. The group has more than 1,200 employees across three continents.
Speaking about the deal Aristocrat Managing Director Trevor Corker said, "This acquisition is truly compelling as it increases our presence in the high-growth mobile gaming market and substantially increases the digital segment's pro forma earnings contribution to Aristocrat. The acquisition reiterates our firm commitment to pursuing high growth adjacencies and increasing our recurring revenue base."
"Importantly, the acquisition is expected to be EPSA accretive in year one and key management personnel have remained in the business."
"We are delighted to have Plarium and its exceptionally talented team join the Aristocrat family; we look forward to continue building our already very successful digital business together, for the benefit of Aristocrat's shareholders and other stakeholders."