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International Game Technology PLC (IGT) has announced that it has entered into a definitive agreement to acquire iSoftBet, a igaming content provider and third-party game aggregator, for approximately €160m (£133m/US$173m) 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.