In April 2021, IGT announced its intentions to purchase the online casino games developer, iSoftBet.
This week, IGT notified its investors that the acquisition deal – worth €160 million – has now been completed.
The acquisition of iSoftBet doubles IGT’s portfolio to 225 top-notch casino games which can be found at leading online casinos.
According to a press release put ou by IGT, the merging of the two entities provides “a world-class, proprietary game aggregation platform to distribute third-party games, and leading data-driven promotional and user-engagement tools.”
The acquisition announcement in April last year was subject to closing conditions.
At the time, IGT chief executive, Vince Sadusky said that the deal would enhance the group’s competitive capabilities with a proven, complementary content portfolio across European and North American markets “as we provide best-in-class games and technology to our fast-growing igaming customers.”
IGT chose Oakvale Capital LLP to act as its lead financial advisor.
The acquisition of IGT came on the heels of IGT’s decision to sell its Italian proximity payment business to PostePay for €700 million.
The payment business comprises of a network of 54,000 points of sale, and allows customers to pay bills, buy prepaid payment cards, top up their e-vouchers and enjoy all the services of a full remote digital payment platform.