Jeremy Thompson-Hill
Toronto-listed NYX Gaming Group has updated that market, announcing that it has entered a ‘binding share agreement’ to purchase 100% of Openbet from private equity firm Vitruvian Partners LLP.
NYX Gaming governance disclosed that it has placed a total consideration of £270 million for Openbet assets, which will include the repayment of the firm’s existing £95 million debt.
The Toronto igaming supplier’s acquisition will be con-funded by betting operators William Hill and Sky Betting and Gaming who are set to contribute £100 million of equity investment.
Issuing a corporate statement, NYX Gaming detailed the following motives for its acquisition of Openbet assets
Confirming his firms binding agreement Matt Davey, NYX Gaming CEO commented:
“The acquisition of OpenBet by NYX completes the portfolio of industry-leading products and services we offer to our customers. They are two highly complementary businesses with key strengths in regulated markets, technology services and gaming content. It positions NYX as the leading provider of B2B betting and gaming solutions on a global scale. We are looking forward to working with OpenBet and their customers to help them to deliver world class experiences to their players”
Jeremy Thompson-Hill, CEO of OpenBet further commented: “The joining of OpenBet and NYX is a natural union born out of synergies in product, the customer base and, importantly, culture. It will enable us to leverage our knowledge, strengths and resources to deliver our customers with best-in-class products and technologies across all verticals and channels.”
Source: SBC News
