NeoGames said that Aspire Global shareholders, who in aggregate own 67.0% of Aspire Global’s outstanding shares, have elected to accept the offer and will elect to receive up to 100% of the 7.6 million offered NeoGames shares.
A bid committee of independent Aspire Global directors, formed in response to the offer, has also unanimously recommended shareholders accept the offer.
The deal would see NeoGames gain access to Aspire Global proprietary products and managed services offering, with a significant presence across regulated markets in Europe, Latin America, and Africa.
Aspire Global will be able to accelerate its US entry plans through the existing presence of NeoGames and will continue to act independently and as an iGaming division in the whole group.
All employees are expected to remain in both parties, with Tsachi Maimon continuing as CEO of Aspire Global group and appointed president of the NeoGames group.
When submitting the offer, NeoGames said the combination of the two businesses would result in the creation of a “leading global provider in interactive content, proprietary technology and operations across all elements of ilottery, online sports betting and igaming verticals.”
According to NeoGames, other benefits for the business would include strengthened management expertise and company structure, as well as a commitment to continued, profitable growth.
“As we have shared previously, we embarked on a process to identify external growth opportunities in areas we thought could solidify our standing as a leader in providing digital solutions to lotteries globally,” NeoGames chief executive Moti Malul said.
“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 turnkey B2B gaming solutions, NeoGames will be positioned to significantly increase our addressable market opportunities,” Malul added.
“This transaction is the natural next step for our company, as we further enhance our scale and competitive position across all business lines. The objective of the combination is to generate significant long-term value for both sets of shareholders, by synergistically capitalising on the key strengths of our two platforms and positioning them both for expansion in new and existing markets,” coments Tsachi Maimon, chief executive of Aspire Global
Subject to certain regulatory approvals, the acquisition is expected to complete during the first half of 2022.
Source: GMB
