Swedish casino game developer NetEnt have announced the acquisition of one of their competitors, with the announcement of the takeover and acquisition of Isle of Man based Red Tiger Gaming.
Red Tiger was founded in 2014 by a couple of industry veterans and in the past five years has built up a solid reputation for developing casino game content, especially targeting the European and Asian marketplaces.
NetEnt have this afternoon sent out a notification that the acquisition of Red Tiger is now complete and they are now inviting analysts, media and investors to a telephone conference call tomorrow, at 10am CET.
The deal for Red Tiger values the company at £200m and commenting on the deal, Red Tiger’s Chief Executive Officer, Gavin Hamilton, said: “This is an exciting new stage of the Red Tiger story and we are delighted to become part of the NetEnt group.”
“Accessing NetEnt’s unparalleled distribution network and geographic footprint will unlock new opportunities for Red Tiger and will further accelerate our growth.”
“At Red Tiger we’ll remain focused as always on driving further innovation and we are looking forward to working with NetEnt on how to leverage our combined capabilities to create new products that wow our customers.”
Therese Hillman, the Group CEO for NetEnt, said of the acquisition: “I am very pleased to welcome Red Tiger into the NetEnt Group. The acquisition combines two of the leading and most innovative companies in the online gaming industry.”
“We look forward to working with Red Tiger’s fantastic team to enhance our combined global reach and to offer further value to operators and players. The transaction will provide significant revenue synergies across our markets worldwide.”