Plus 10-year service contract in place
Intertain's acquisition target, the subject of much conjecture in the past weeks, was put to bed today (Thursday) with the announcement of the acquisition of GameSys' Jackpot Joy B2C business.
A newly incorporated subsidiary has been created to hold all the brands and player data assets within the Jackpot Joy business that Intertain will acquire for a cool GBP 425.8 million payable in cash and share considerations, plus certain cash earn out payments.
Brands involved in the new entity include Jackpotjoy (UK, www.jackpotjoy.com, Eire and Sweden sv.jackpotjoy.com), Starspins www.starspins.com and Botemania www.botemania.es).
Additionally, a 10-year services agreement was reached between the companies where Gamesys (Gibraltar) Limited and Gamesys will provide platform services and gaming content to the products in the acquisition subsidiary.
Further terms of the deal will see Noel Hayden, principal shareholder, founder and managing director of Gamesys join the board of directors of Intertain as a non-executive director.
"Gamesys and Intertain are a perfect match. From our earliest discussions we shared their vision which we know is critical to a successful long-term partnership. This is a great deal for Intertain and Gamesys, our shareholders, our employees and our players," commented Hayden.
Online Casino News Courtesy of Infopowa