Inspired Entertainment has completed the acquisition of Novomatic’s Gaming Technology Group (NTG), after the Competition and Markets Authority cleared the purchase last month.
As a result of the closure, Inspired states that it plans to draw on each organisation’s core strengths to broaden offerings, bring differentiated products to new sectors and geographies, accelerate key growth initiatives and offer enhanced capabilities, systems, field service and content.
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.
Inspired will now supply gaming systems with associated terminals and content for more than 58,000 machines located in betting shops, pubs, gaming halls and other route operations, virtual sports products through more than 44,000 retail channels, digital games for more than 100 websites and a variety of amusement entertainment solutions with a total installed base of more than 19,000 devices.
“This acquisition is transformational for Inspired as it unites two highly complementary businesses to create a company that we expect to be a leader in the gaming industry with innovative content, state-of-the-art technology and an expansive footprint,” commented Lorne Weil, executive chairman of Inspired.
“We see significant opportunities across the combined companies to accelerate our growth, expand our reach and set new standards for innovation and service in the industry.
“The larger scale of the combined organisation will offer a one-stop service for gaming, virtual sports, interactive and leisure products – and a complete gaming solution that operators can use to reach players wherever they are, whenever they want to play and in any channel they choose. We expect to be able to deliver meaningful value to our shareholders as the acquisition is integrated.”
To acquire NTG, Inspired paid approximately €104.6m in cash. In connection with the acquisition, the firm entered into a new term loan facility for £140m and €90m and a £20m revolving credit facility.