« News index »
CONTAGIOUS GAMING ACQUIRES DIGITOTE
20th October, 2015 at 13:54:32
Enhances existing sportsbook offer.
Following notice of its intention to acquire German sportsbook software provider Digitote in May (see previous report), Contagious Gaming has entered into a definitive agreement for all of the issued and outstanding common shares of Digitote Limited and Digitote Software GmbH Deutschland.
Contagious Gaming will purchase all of the shares of Digitote for a purchase price of C$7.15 million (Euro 5 million) by way of a share consideration of approximately C$4 million (Euro 2.8 million) to be satisfied by the issuance of new Contagious Gaming shares at a price per share of $0.50 for a total of 8,008,000 shares.
Further terms include an earn-out consideration of 1x EBITDA for each of the four years following the closing of the Acquisition up to a cumulative total of Euro 2.2 million (C$3,146,000).
"We are delighted to announce that we have entered into a definitive agreement to acquire Digitote which expands and enhances our sports betting offering," commented Peter Glancy, chief executive officer and director of Contagious Gaming.
"The Acquisition enables us to provide our existing and new customers with a fixed odd sports betting platform alongside Goal Time. Digitote's software has a 30-year history as an extremely robust sports betting platform with a proven track record of handling over $10 billion of web, mobile and land-based wagers throughout Europe."
Related News Tags: Germany
INDONESIAN ONLINE GAMBLING BUST
21st March, 2017 at 14:44:19
Nets three suspects.
ENERGYCASINO TAKE ON LIVE DEALER SOLUTION FROM EVOLUTION GAMING
20th March, 2017 at 15:15:56
Expanded live casino offer for UK market.
SECOND GERMAN STATE TREATY ON GAMBLING APPROVED BY BUNDESTAG
17th March, 2017 at 14:21:15
Lower house rejects European Commission opinion that latest gambling reform proposals are not viable.
MYBET BOOSTS LIVE CASINO WITH EVOLUTION GAMING
14th March, 2017 at 06:37:43
Forms part of a wider revamp across the mybet brand.
POKERSTARS CASINO MAKES THREE MILLIONAIRES IN ONE MONTH
10th March, 2017 at 19:59:37
Over $4.2 million won from million dollar jackpots at PokerStars Casino in 27 days from end-January to end-February this year..