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NYX GAMING UPDATE CONFIRMS COMPLETION OF OPENBET ACQUISITION
23rd May, 2016 at 08:21:22
£270 million deal co-funded with William Hill and Sky Betting finalised.
The £ 270 million purchase of online sports betting platform provider Openbet from private equity group Vitruvian agreed last (April) month and co-funded by William Hill
plc and Sky Betting and Gaming has been successfully completed, according to a trading update issued Monday by new owners NYX Gaming.
The terms of the deal saw NYX acquiring Openbet lock, stock and barrel, with William Hill and Sky Betting and Gaming contributing £80 million and £ 20 million respectively. NYX has agreed to take on Openbet's £95 million of corporate debt as part of the deal.
Announcing the completion of the transaction on behalf of the three funding companies, NYX Gaming CEO Matt Davey said that the acquisition was part of the group's expansion plan, and would enable his company to provide player-driven technology across diverse verticals and channels.
"The acquisition reinforces our position as the leading provider of regulated B2B digital gaming solutions," Davey said in a statement. "We now turn our focus to planning and executing the strategy to leverage the collective strengths and benefits of scale that the combined business brings to our customers and shareholders."
The company statement notes that NYX Gaming employs 1,100 people across 14 nations in Europe, North America, Asia, New Zealand and Australia.
Related News Tags: Openbet, William Hill
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