IGT completes €160m takeover of iSoftBet
The board of IGT Plc has notified investors that the NYSE gambling technology group has completed its acquisition of iSoftBet in a cash deal worth €160m.
Last April, IGT entered definitive terms to acquire Malta-based, games developer and online casino solutions provider iSoftBet – deemed as an essential transaction to bolster IGT’s interactive unit.
Of significance, the acquisition of iSoftBet will more than double the IGT PlayDigital content library to approximately 225 proprietary games.
Further benefits will see IGT’s interactive unit bolster its online casino inventory by the addition of iSoftBet’s proprietary-built aggregation platform to distribute third-party games to clients and the developer’s data-led marketing and user engagement tools.
The deal represents the first M&A undertaken by IGT under the leadership of new Group Chief Executive Vince Sadusky, who has been charged with redeveloping the NYSE group’s new digital profile.
Leading IGT’s digital makeover, Sadusky branded iSoftBet as a ‘highly complementary asset’ that will allow IGT Interactive unit to bolster its games supply for existing European partners and new North American igaming customers.
Operating since 2010, Malta-based iSoftBet is recognised as one of the online casino market’s leading aggregator solutions providers.
iSoftBet currently services a B2B client roster of +260 operators with its range of 125 proprietary games, and access to more than 4,600 third-party titles through its game aggregation platform.
IGT will expand its online casino and games operations by incorporating iSoftBet’s 350 employees who work across 20 European jurisdictions.