Neo Group (Neo), a technology-driven provider of end-to-end iLottery and iGaming solutions, announced that Aristocrat Leisure, an entertainment and content creation company delivering world-leading mobile and casino games, has completed the previously announced acquisition of all of the outstanding ordinary shares of Neo for US$29.50 per share in an all-cash transaction, representing an enterprise value of approximately US$1.2 billion for Neo.
In May 2023, Aristocrat agreed to purchase NeoGames for US$1.2 and it was hoped that the acquisition would complete within 12 months. Now, the deal received ‘overwhelming’ support from NeoGames shareholders during the company’s second shareholder meeting on April 26 of this year.
NeoGames is mostly focused in content and technology solutions for online Real Money Gaming (RMG), iLottery, iGaming, and Online Sports Betting (OSB).
“We are excited to have successfully closed this transaction and joined forces with the Aristocrat team to further drive our success across iLottery, iGaming, and online sports betting,” said Moti Malul, Chief Executive Officer of Neo.
“We firmly believe that this Transaction represents a great outcome for all of Neo’s shareholders, customers and employees. We are very grateful to all our stakeholders who have supported us since our inception.”
“I would also like to thank all our employees for their commitment in making Neo the great company it is today.”
Neo is a technology-driven innovator and a global leader of iLottery and iGaming solutions and services for regulated lotteries and gaming operators. The company offers its customers a full-service suite of solutions, including proprietary technology platforms, two dedicated game studios with an extensive portfolio of engaging games – one in lottery and one in casino games, and a range of value-added services.
The recent strategic acquisition of Aspire Global Group enables Neo to offer the most comprehensive portfolio across iLottery, an innovative sports betting platform from BtoBet, an advanced content aggregation solution from Pariplay, and a complete set of B2B Gaming tech and Managed Services.
Neo remains an instrumental partner to its customers worldwide, as it works to maximize their revenue potential through various offerings, including regulation and compliance, payment processing, risk management, player relationship management, and player value optimization.
Source: GMB
