- International Game Technology PLC IGT has agreed to acquire iSoftBet, an igaming content provider and third-party game aggregator, for approximately €160 million in cash.
- The acquisition is expected to more than double the IGT PlayDigital content library to about 225 proprietary games.
- The deal is expected to be completed in the second quarter of 2022.
- "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 CEO Vince Sadusky.
- The company held $591 million in cash and equivalents as of December 31, 2021.
- Oakvale Capital LLP is acting as the lead financial advisor to IGT.
- Price Action: IGT shares closed higher by 2.81% at $23.06 on Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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