IGT completes its acquisition of iSoftBet for $164m
The iGaming content provider and third-party game aggregator joins IGT’s content library.
It was previously announced that IGT (International Game Technology PLC) would acquire iSoftBet. However, it has now been revealed that the acquisition has been completed for a total of $164m in cash.
The acquisition more than doubles the IGT PlayDigital content library to approximately 225 proprietary games. In addition to the library increase, IGT will also have access to a proprietary game aggregation platform to distribute third-party games and leading data-driven promotional and user-engagement tools.
The company iSoftBet recently added 3 Oaks Gaming to its growing list of partnerships. The agreement will see 3 Oaks’ content from its studio partners such as Magic Apple 2 and Fish Reef Megaways, as well as classic titles such as Book of Wizard and 3 Coins Egypt.
Chief Commercial Officer at iSoftBet, Federica Faggiano, said: “3 Oaks brings interesting concepts to market, be it an array of Hold and Win titles or exciting Megaways games. We’re very excited to add them to our aggregation roster and look forward to a positive working relationship.”
This partnership for iSoftBet also means that these games can be added to the IGT PlayDigitial content library as well. This also works out well for 3 Oaks Gaming as partnering with iSoftBet will see 3 Oaks’ portfolio exposed to operators globally.
Sebastian Damian, Managing Director at 3 Oaks Gaming said: “iSoftBet is a major provider and aggregator in the industry and this is an important commercial deal for us as we look to further our footprint across regulated markets.”
Oakvale Capital LLP acted as the lead financial advisor to IGT. Wachtell, Lipton, Rosen & Katz served as legal advisors to IGT, and KPMG LLP acted as tax and financial due diligence advisor to IGT.
In January of 2022, IGT announced the hiring of Vincent Sadusky as IGT’s new CEO after the retirement of Lorenzo Pellicioli.
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