Australia’s Aristocrat Leisure to buy software firm NeoGames for $1 billion

Australia’s Aristocrat Leisure on Monday mentioned it has entered a deal to accumulate Israel-based software program agency NeoGames S.A. for $1.0 billion because the playing machine maker seeks to broaden its on-line presence.

Aristocrat Leisure mentioned it could pay a money worth of $29.50 per share to the shareholders of NeoGames to purchase 100% of the Nasdaq-listed software program agency.

The takeover would give Aristocrat entry into the enticing iLottery market, “which is a highly regulated … and can facilitate further penetration across other online Real-Money Gaming (RMG) verticals,” the corporate mentioned.

NeoGames does content material and expertise options for the net RMG trade.

“We see great opportunities in the combination of our complementary businesses, with clear revenue and growth potential that comes with a complete and seamless online RMG solution,” mentioned Aristocrat CEO Trevor Croker.

NeoGames’ board has really helpful its shareholders vote in favour of the deal and holders of 61% of NeoGames shares have additionally executed a deal to vote in favour of the acquisition, Aristocrat mentioned

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