LONDON, April 11, 2022 /PRNewswire/ – International Game Technology PLC (NYSE: IGT) ("IGT") today announced that it has entered into a definitive agreement to acquire iSoftBet, a leading igaming content provider and third-party game aggregator, for approximately €160 million in cash.
The acquisition will more than double the IGT PlayDigital content library to approximately 225 proprietary games, in addition to providing a world-class, proprietary game aggregation platform to distribute third-party games, and leading data-driven promotional and user-engagement tools.
"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," said Vince Sadusky, IGT CEO. "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."
The acquisition is expected to be completed during the second quarter of 2022, subject to the satisfaction of customary closing conditions.
Oakvale Capital LLP is acting as lead financial advisor to IGT. Wachtell, Lipton, Rosen & Katz is acting as legal advisor to IGT and KPMG LLP is acting as tax and financial due diligence advisor to IGT.
M. Firon & Co. and Wiggin LLP acting as legal advisor to iSoftBet. BDO Israel is acting as independent registered public accounting and tax firm of iSoftBet.
iSoftBet is a leading igaming content provider and third-party game aggregator. For the 2021 fiscal year, iSoftBet generated revenue of approximately €30 million and EBITDA of approximately €8 million. The iSoftBet portfolio contains approximately 125 proprietary games and more than 4,600 third-party games through the iSoftBet proprietary game aggregation platform. With primary office locations in England, Malta, and Romania, and approximately 350 employees and contractors, iSoftBet has approximately 260 igaming operators as customers and its games are certified by 20 European regulators.
IGT (NYSE:IGT) is a global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Lotteries and Gaming Machines to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivaled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 10,500 employees. For more information, please visit www.igt.com.
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