Aristocrat has confirmed the acquisition of Neo Group for $29.50 per share, representing an enterprise value of approximately $1.2bn for Neo.
The acquisition of the end-to-end ilottery and igaming solutions firm represents a significant moment of growth for the ambitions of Aristocrat.
Moti Malul, Chief Executive Officer of Neo, commented: “We are excited to have successfully closed this transaction and joined forces with the Aristocrat team to further drive our success across ilottery, igaming, and online sports betting.
“We firmly believe that this transaction represents a great outcome for all of Neo’s shareholders, customers and employees. We are very grateful to all our stakeholders who have supported us since our inception. I would also like to thank all our employees for their commitment in making Neo the great company it is today.”Furthemore, amidst the takeover being completed, Neo has underlined its focus on ‘elevating the igaming landscape, capitalising on opportunities, and diligently executing on our strategic objectives for the benefit of all stakeholders’.
