The Israel-based iLottery supplier NeoGames has announced the final acquisition of the Maltese technology developer Aspire Global.
Agreement Recap
In January, NeoGames released an official assertion on the buyout of all shares of the provider for € 402.3 million.
The decision time was prolonged from 25 May to 14 June for all stakeholders to lend consent to the transaction.
Takeover Review
Over 99% of the Maltese brand’s stocks were put up for auction. In case some shares will be unsold until June 30, they will be written off before mid-August. Relying on such actions, NeoGames has the opportunity to redeem the remaining parts.
The new owner is going to pay for the bargain with recently issued stakes and cash. The organisation is going to give Aspire representatives more than 7.5 million shares. The Maltese brand will receive approximately € 251 million from the Israeli giant in cash.
Leaders and Their Expectations
The collaboration will be managed by the current NeoGames director Moti Malul and CFO Raviv Adler, while Maltese brand leader Tsachi Maimon will head the newly formed iGaming unit.
Malul comments that they are fully prepared to begin operational work to identify potential profit opportunities from merged platforms.
He adds that this collaboration will bring protracted significance to stakeholders, by actively exploiting the intensity of both brands. The coalition provides better positioning for the Israeli giant to extend into new and existing markets.
The director notes the company has every chance to increase the spread of its services in the USA and Canada with the help of Aspire’s:
- BtoBet — betting system;
- Pariplay — aggregation platform;
- exclusive offerings;
- B2B turnkey solutions.
Tsachi Maimon believes that both companies can complement each other well for the development and realisation of their goals.
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