Golden Matrix Group has signed a definitive deal to purchase MeridianBet Group, along with its related companies. Both entities have agreed to a cash and stock transaction of close to $300m.
MeridanBet is based in Malta and operates in several commercial markets worldwide, which include Latin America, Europe and Africa.
Both parties anticipate wrapping up the sale during the first half of this year, pending customary closing conditions. The companies have also agreed to continue operations under their current brand names.
MeridianBet CEO Zoran Milosevic described the pending transaction as a significant company milestone.
He said: “Today marks a major milestone for MeridianBet Group and its employees. As a public company traded on Nasdaq, in synergy with Golden Matrix, we expect to set an industry standard when it comes to worldwide gaming platforms; and to be in an even stronger position to deliver on our aggressive growth strategy and expand into new markets, including Brazil and the US.
Golden Matrix CEO Brian Goodman commented: "We are thrilled to announce our entry into a purchase agreement with the shareholders of MeridianBet Group. We believe that this acquisition will provide us entry into a well-established and highly scalable B2C vertical in new markets outside of our core markets.
“MeridianBet Group appealed to us with its proven business model that emphasizes organic growth, resilience to external economic factors, and exceptional products and technology.”
He went on to add that the company is still committed to continued global expansion.
Goodman said in closing: “We are pleased to be on the path to completing this acquisition and look forward to strengthening and growing our position in the global online betting and gaming industry, expanding into new regulated markets, and maintaining our ongoing drive to scale the business as a whole at a rapid growth rate.”
