International Game Technology To Acquire ISoftBet In EUR 160 Mln Cash Deal
International Game Technology PLC (IGT) announced Monday that it has entered into a definitive agreement to acquire iSoftBet, an igaming content provider and third-party game aggregator, for around 160 million euros in cash.
The acquisition is expected to be completed during the second quarter of 2022, subject to the satisfaction of customary closing conditions.
The iSoftBet portfolio contains around 125 proprietary games and more than 4,600 third-party games through the iSoftBet proprietary game aggregation platform. For the 2021 fiscal year, iSoftBet generated revenue of approximately 30 million euros and EBITDA of around 8 million euros. The company has approximately 350 employees and contractors.
The acquisition is expected to more than double the IGT PlayDigital content library to around 225 proprietary games. This is in addition to providing a proprietary game aggregation platform to distribute third-party games, and data-driven promotional and user-engagement tools.
Vince Sadusky, IGT CEO said, “The acquisition of iSoftBet will provide market-tested proprietary digital content, advanced game aggregation capabilities, scalable promotional tools, analytics and strong creative talent to IGT’s PlayDigital operations. This will enhance PlayDigital’s competitive capabilities with a proven, complementary content portfolio across Europe and North America as we provide best-in-class games and technology to our fast-growing igaming customers.”
In the deal, Oakvale Capital LLP is acting as lead financial advisor and Wachtell, Lipton, Rosen & Katz is acting as legal advisor to IGT.
M. Firon & Co. and Wiggin LLP acting as legal advisor to iSoftBet.
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