The Competition and Markets Authority has cleared Inspired Entertainment’s $120m acquisition of the Gaming Technology Group (NTG) of Novomatic UK.
This comes after the non-ministerial government department announced it was investigating the proposed transaction in July, citing that it was to judge whether creating the enlarged organisation would result in a significant lessening of competition within the UK market.
Inspired announced that a definitive agreement was in place on June 11, with the CMA’s approval representing a critical requirement to complete the transaction.
Following this announcement, the company expects to complete the NTG acquisition around October 1, 2019, subject to the satisfaction of the remaining customary closing conditions.
“We are pleased to have received approval from the CMA and are grateful for their diligence and efficiency in reviewing the transaction,” commented Lorne Weil, executive chairman of Inspired.
“The anticipated successful completion of this acquisition is expected to be an exciting step forward in the evolution of Inspired into a global gaming company with a comprehensive portfolio of products and services, and world-class functional expertise in the gaming industry.”
The purchase of the Novomatic Group division, which supplies category B3, C and D gaming terminals to pubs, arcades, motorway service areas and holiday resorts in the UK, sees Inspired be set to manage in excess of 75,000 gaming machines across the region and Europe.
NTG comprises Gamestec Leisure, Playnation, Astra Games, Bell-Fruit Group, Harlequin Gaming and Innov8 Gaming, with Inspired stressing that it expects to achieve between $12.3m to $13.3m of synergies through shared costs and increased scale.
Outlining plans to “draw on the core strengths of Inspired and NTG,” as a result of the transaction the former is striving to broaden offerings, bring differentiated gaming products to new sectors and geographies, accelerate key growth initiatives and offer enhanced capabilities, systems, field service and content.
