Inspired completes acquisition of Gaming Technology Group
Inspired Entertainment has completed its purchase of Gaming Technology Group (NTG), a division of Austrian gaming equipment and solutions giant Novomatic’s UK subsidiary.
Agreed in June, The deal is worth $120m (£97.8m/€109.9m) and covers the six companies within NTG, including Gamestec Leisure, Playnation Limited, AstraGames Limited, Bell-FruitGroup Limited, Harlequin Gaming Limited and Innov8 Gaming Limited.
Inspired said the acquisition combines its position and expertise in server-based gaming, virtual sports and interactive with NTG’s gaming products and content, across a complementary customer base. NTG supplies Category B3, C and D gaming terminals to pubs, arcades, motorway service areas and holiday resorts in the UK.
As a result of the deal, Inspired will now supply gaming systems with associated terminals and content for more than 58,000 gaming machines in betting shops, pubs, gaming halls and other route operations, as well as virtual sports products through over 44,000 retail channels, digital games for over 100 websites and a range of amusement entertainment solutions with an installed base of more than 19,000 devices.
Inspired said it expects to achieve between $12.3m and $13.3m in annual cost synergies within six months of the closing date through shared costs and increased scale.
In addition, Inspired said it will make use of shared manufacturing, engineering, software development, field maintenance and customer service to drive growth and cost savings.
“This acquisition is transformational for Inspired as it unites two highly complementary businesses to create a company that we expect to be a leader in the gaming industry with innovative content, state-of-the-art technology and an expansive footprint,” Inspired’s executive chairman Lorne Weil said.
“We see significant opportunities across the combined companies to accelerate our growth, expand our reach and set new standards for innovation and service in the industry.
“The larger scale of the combined organisation will offer a one-stop service for gaming, virtual sports, interactive and leisure products and a complete gaming solution that operators can use to reach players wherever they are, whenever they want to play and in any channel they choose. We expect to be able to deliver meaningful value to our shareholders as the acquisition is integrated.”