On the back of completion of Openbet deal
Having just completed its Openbet purchase, NYX Gaming Group has announced another acquisition, this deal for UK-based gaming content and platform provider BetDigital.
The company said Betdigital will provide NYX with a game development platform and studio that caters to the UK retail and online markets, along with the ability to further exploit opportunities for games development and leverage existing NYX studios for game design and art.
The purchase price consists of an upfront cash payment and earn out over three years. The maximum aggregate consideration including upfront and earn out is GBP 24.5 million, equivalent to a 2.51x EBITDA multiple. The total assets acquired were less than 5 percent of NYX Gaming Group's total assets at March 31, 2016.
Heath Samples, chief executive officer and general counsel for Betdigital said in a press statement that the company is well-positioned to assist NYX gain maximum returns from their plans for omni-channel expansion, while accelerating Buetdigital's growth story by leveraging the cross sell opportunities available with the NYX customer base.
"In Betdigital, we have identified an asset that will strengthen our reach and underpin the global content strategy of the company," added Matt Davey, chief executive officer for NYX Gaming Group. "Particularly, Betdigital allows NYX to strengthen its position in the UK market, providing another unique flavor of regional expertise and omni-channel content that will benefit NYX and OpenBet customers and shareholders immediately and over the long term."
Online Casino News Courtesy of Infopowa