EveryMatrix has edged closer towards completing the acquisition of Fantasma Games AB, as more than 95% of the Stockholm-based games studios’ shareholders have accepted the igaming company’s public offer.
A recommended public offer to acquire all shares in Fantasma Games was submitted by EveryMatrix on 18 September. The total cash consideration of the deal is SEK 209.8m (€18.5m), SEK 59 in cash per share (€5.21) listed on the Nasdaq First North Growth Market Sweden.
The bid was conditional and needed at least 90% of shareholders agreeing for it to go through. With the expiration of the acceptance period on 10 October, EveryMatrix has announced that the condition has now been met, with 95.2% of Fantasma Games shareholders having agreed, allowing for the transaction to go ahead.
Ebbe Groes, Group CEO and Co-Founder of EveryMatrix, stated: “We’re delighted to announce that this acquisition will proceed. It is another M&A deal fully funded from our own cash flow and made possible due to our rapid organic growth. We see big synergies and opportunities.
“Fantasma’s games are recognised by the world’s largest operators and their players as among the very best both from a performance and an experience perspective. Its games production output is seriously impressive, as is their management and staff who have created a business that consistently generates remarkable financial results.
“I’d like to thank the EveryMatrix team that have worked so hard to make this possible as well as Fredrik and his team with whom we believe we can do even greater things as a combined force.”
With more than 29,000 games from over 350 third-party studios and its own brand Armadillo Studios, EveryMatrix’s SlotMatrix platform will grow even further with the addition of Fantasma Games.
The igaming company supplies titles across 50 countries to over 250 operators such as Paddy Power, Betsson, LeoVegas, DraftKings and BetMGM.
EveryMatrix added that Fantasma Games’ market distribution will help to improve its presence in regions such as North America.
Fredrik Johansson, CEO and Founder of Fantasma Games, said: “I’m incredibly proud of the fantastic journey we have undertaken so far with Fantasma Games. Now, as we approach the next major phase in our growth, I’m confident that EveryMatrix is the perfect partner to help us realise our long-term vision.
“We not only share a common passion for innovation, but also a deep understanding of what it takes to create gaming experiences that truly engage and entertain players in a unique way. EveryMatrix has a strong technical platform and extensive experience in fostering successful collaborations within the gaming industry, which makes us feel confident that together we can take our game development to new heights.
“Through this partnership, we see tremendous potential, not only to enhance the quality of our existing games, but also to develop new and groundbreaking game concepts that can set future standards. We look forward to building a long-term and successful collaboration where we can jointly continue to drive development forward and create added value for both players and our partners.”