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Intralot in Agreement to Purchase Remaining Bit8 Shares

Internet betting group Intralot has announced that they've decided to purchase the remaining outstanding shares of Bit8, completing a purchase that began in 2015.

Intralot announced the decision to purchase the remaining 65% of shares in the company after key financial targets were met. The original deal saw Intralot getting 35% of the company, with the possibility of picking up more down the road. Financials related to the purchase weren't available as of press time. Bit8 is a gaming platform group that provides casino and sports titles to casinos around the world.

Speaking about the deal Intralot CEO Antonios Kerastaris said, "PULSE has become a major pillar of our Digital Transformation strategy for Lottery Modernisation and a strategic asset in our product portfolio. Bit8 becomes a full member of the Intralot family, carrying enormous promise for future growth and product development by playing an important role in the successful deployment of our 'All About the Player' product design strategy."

Bit8 Founder Angelo Dalli added: "I am thrilled for the success of our cooperation with Intralot and today's development that promises to bring a new cycle of growth, portfolio enhancement, and international recognition for Bit8. Like every founder who has worked hard for the creation of a successful company I am proud about the company's evolution and look forward to our future cooperation to reach new targets."

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bgsharpe
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24 October 2017 - 8:38am
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Obviously Intralot saw the potential that Bit8 gaming platform has if they insisted on that acquisition for more than two years.

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