Announced yesterday, the boards of Aristocrat and Playtech finalized an acquisition agreement worth approximately $2.9bn.
Per the terms of the acquisition, Aristocrat will purchase Playtech at $9.35 per share.
Historically, Playtech has been one of gaming’s most prominent suppliers, however, in recent years its dominance has waned somewhat. This agreement has the potential to see the supplier return to the top of gaming sector.
In the wake of the announcement, Jason Ader, one of Playtech’s largest shareholders and CEO of SpringOwl Asset Management, said: “This deal represents a compelling alignment of strategic interests and validates our long-held view of the value of Playtech.
“This would be a significant victory for Brian Mattingley in his short tenure as Chairman and we congratulate him on his efforts to address our concerns as long-term shareholders and put the company in a position to unlock value and attract investment into Playtech.”
As reported by Gaming America. Playtech’s board views the terms of the merger as “fair and reasonable.” With this in mind, the company plans to unanimously vote in favor of the deal.
“The proposed combination would bring together Aristocrat’s world-class gaming content, customer and regulatory relationships with Playtech’s industry-leading global online RMG platform and European B2C footprint,” said Aristocrat CEO, Trevor Croker.
Mor Weizer, CEO of Playtech, added: “This deal has the potential to enhance our distribution, our capacity to build new and deeper relationships with partners and bolsters our technological capabilities.”
