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Norwegian lottery technology group Next Generation Lotteries has announced that they've struck a deal to purchase Novomatic Lottery Solutions from the Austrian betting giant of the same name.
The deal is for an undisclosed amount and will see NGL becoming the sole owner of NLS, absorbing all existing service contracts. The agreement won't see any initial contraction for NLS, as the company's offices in Germany, Norway, Spain, Tunisia, Serbia, Iceland, and Austria will stay open. NLS has served as a subsidiary of Novomatic since 2013 when the company Betware was purchased by the betting firm.
Commenting on the deal Novomatic COO Ryszard Presch said, "There is a perfect strategic fit of both companies and the experienced team of Next Generation Lotteries has a convincing concept for further development of NLS.
"Moreover, it was important to us to pay attention to the existing jobs and that Austria will remain the company´s headquarter."
NGL CEO Hans Vigmostad added: "It is our true privilege to have acquired what is said to be the most modern lottery system in the world and the services of the talent that created it.
"What we have acquired today is more than a company, it is a more than the intellectual property developed with great ingenuity by passionate professionals over 20+ years.
"I am convinced that this acquisition, with the new vigor we intend to bring to the company, will accelerate our growth, revitalize the development of NLS' product portfolio, grow existing business and allow us to win new business. It's time to prove that this is the most modern lottery system."
No timetable for the finalization of the deal was available at press time.