International Game Technology looks set to more than double its IGT PlayDigital portfolio as the firm enters into a definitive agreement to acquire iSoftBet.
Reported to be approximately €160m in cash, the acquisition is expected to be completed during the second quarter of 2022, subject to the satisfaction of customary closing conditions.
“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.”
Alongside the acquisition of IGT’s PlayDigital games catalogue, the process will see the company gain iSoftBet’s proprietary game aggregation platform to distribute third-party games, as well as data-driven promotional and user-engagement tools.
Oakvale Capital is acting as the lead financial advisor to IGT, with Wachtell, Lipton, Rosen & Katz acting as legal advisor and KMPG as tax and financial due diligence advisors.
Furthermore, M. Firon & Co. and Wiggin are acting as legal advisor to iSoftBet.