This story was published more than 2 years ago.
Novomatic is selling its Novomatic UK Ltd. to Inspired Entertainment, Inc. for $120 million with the intention of helping Inspired expand its hold in Europe.
The agreement will see Novomatic's UK umbrella of companies being ported to Inspired, with the following companies also included: Gamestec Leisure, Astra Games Ltd., Bell-Fruit Group, Ltd., Harlequin Gaming, Ltd. Innov8 Gaming Ltd. and Plantation, Ltd. The purchase will see Inspired taking over more than 75,000 gaming machines across Europe, but will be contingent on shareholder approval from both sides.
Commenting on the deal Inspired CEO Lorne Weil said, "The potential acquisition of NTG is transformational for Inspired, enabling us to dramatically increase the size, scale and scope of our business by combining our highly complementary, but largely non-overlapping, businesses. We expect to leverage our superior game content, technology, operational capabilities and respective footprints to augment the existing growth trends for our enterprise."
"Inspired and NTG currently operate in different segments but have much in common in terms of providing resources for our customers and their consumers. This combination would provide additional resources for our core businesses and combine the great content and machine portfolio from each. We expect to be able to deliver meaningful value to our shareholders as the acquisition is integrated."
We'll follow this story and update readers as the deal develops.