NYX Gaming Group has agreed a deal to acquire the gaming content and platform supplier Betdigital for $35.4 million.
The purchase price of this acquisition deal between NYX and Betdigital consists of an upfront cash payment and earn out over three years, with the maximum aggregate consideration totalling $35.4 million (£24.5m or €31.8m).
NYX Gaming Group released a statement in which they stated that the total assets acquired were less than 5% of their total assets as of March 31 of this year. NYX also added that the acquisition will allow them to further exploit opportunities for games development as well as leveraging existing NYX studios for game design and art. In particular, Betdigital will allow NYX to strengthen their position in the UK market. They will provide another unique flavour of regional expertise and omni-channel content that will benefit both NYX and OpenBet customers and shareholders over the long term.
Matt Davey, NYX chief executive said, "In Betdigital we have identified an asset that will strengthen our reach and underpin the global content strategy of the company."
Betdigital is a UK based company that was founded in 2011. They create gaming content for online, mobile, interactive Television, and land-based gaming platforms. They are known for their development of truly-cross platform gaming engine which enables third party and online game developers to bring their content to the land-based gaming market. They have experience strong growth recently by leveraging their experience in the £1.7 billion UK retail machine market through the strong performance of several of their new gaming titles. With this new deal they will provide NYX with a game development platform and a studio that caters for the UK retail and online markets.
Heath Samples, Chief Executive and General Counsel at Betdigital said, "We are well-positioned to help NYX gain maximum returns from their plans for omni-channel expansion. Being a part of the NYX family will accelerate Betdigital's growth story by leveraging the cross sell opportunities available with the NYX customer base and by providing them with world-class content."
The NYX Betdigital acquisition deal comes after NYX stated that their ongoing merger and acquisition strategy is one of the main reasons behind their year on year increase in revenue and profit during the first opening quarter of 2016. It also follows closely on the heels of the completion of NYX Gaming's acquisition of OpenBet and we expect to see more announcements in the coming months.
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