NYX Gaming Group Limited has announced it is to acquire 100 percent of the outstanding shares of OpenBet.
The total consideration of £270.0 million (US$385.3 million) includes repayment of OpenBet’s £95.4 million existing third party debt, and will be paid in cash, according to a press release from NYX Gaming Group.
“The acquisition of OpenBet by NYX completes the portfolio of industry leading products and services we offer to our customers. They are two highly complementary businesses with key strengths in regulated markets, technology services and gaming content. It positions NYX as the leading provider of B2B betting and gaming solutions on a global scale. We are looking forward to working with OpenBet and their customers to help them to deliver world class experiences to their players” said Matt Davey, CEO of NYX.
Jeremy Thompson-Hill, CEO of OpenBet further commented: “The joining of OpenBet and NYX is a natural union born out of synergies in product, the customer base and, importantly, culture. It will enable us to leverage our knowledge, strengths and resources to deliver our customers with best-in-class products and technologies across all verticals and channels.”
The transaction is expected to close in May, and no later than three months after executing the agreement, according to the release.