NeoGames announced that it has finalized its tender offer to acquire Aspire Global, a leading B2B iGaming technology solutions provider to online sports betting and casino operators.
As of this writing, 99.31% of all Aspire Global shares have been tendered, with the expected settlement date for shares tendered to be around the 30th of June 2022. The remaining Aspire shares will be subject to a squeeze-out which will be completed by approximately 11th of August 2022.
This offer has been funded through a combination of newly issued NeoGames shares and cash, with NeoGames announcing impressive revenue for the fourth quarter of 2021, up 15.2% from the previous year. NeoGames will be paying a cash sum of $264m.
NeoGame Chief Executive Officer Moti Matul stated: “We are thrilled to complete this strategic transaction with the Aspire Global team and to commence working on identifying potential opportunities to capitalize on the merger of our platforms.
“With this transaction, we are combining our two companies intending to create a leading global provider in interactive content, proprietary technology as well as gaming operations, tapping into a potential total addressable market of $74bn… and generate long-term shareholder value.”
NeoGames is the largest RPG publisher in Sweden that has spread to over 30 countries, mainly across Europe. With this move, it aims to expand its brand into North America.
“By integrating our market-leading platform and scalable position within the rapidly expanding global iLottery market, with Aspire Global’s proprietary sports betting platform, BtoBet; its iGaming content and aggregation platform, Pariplay; and its proprietary content and turn-key B2B Gaming solutions, NeoGames is well-positioned to increase our addressable market opportunities, and further expand our services to our North American customers.”
Aspire Global Chief Executive Officer Tsachi Maimon agrees with Matul’s stated ambitions. He commented: “We believe both companies are well-positioned to mutually grow our platforms and execute our strategic initiatives. Not only is this a strategic fit, it is also a strong cultural fit, as significant parts of both management teams worked together extensively during NeoGames’ inception.”
