The prominent gambling firm NeoGames has made its intentions to merge with the top manufacturer Aspire Global widely known to the gaming audience. The consequences of this acquisition could make Aspire stand at over 500 million USD.
What is Known About the Deal?
At the beginning of the year, NeoGames sent a proposition to the stakeholders of the company they wanted to merge with. The document had an official offer to buy Aspire’s shares for cash and/or newly issued securities in NeoGames (as their local depository receipts).
The stakeholders of Aspire, who possess almost 67% of the company’s dividends, are currently considering the proposal. It is known that the independent committee supports the initiative and recommends their stakeholders consider receiving $ 12 per share in cash. Those who prefer getting direct shares in the merged company could also opt for this choice.
NeoGames is offering the organisation executives a chance to receive their assets both in money and in stakes, as a part of a mixed offer. Recently, the official committee held by financial advisors has deemed this deal fair, so there should be no issues in this regard.
Comments
In their statement, NeoGames has stated that they are looking forward to working with Aspire and managing the business process along with their specialists. They also referred to the history that two companies had together, which proved to be highly profitable as they both strive to create cutting-edge products and satisfy their clients.
The representative of NeoGames added that there is a lot of room for expansion, which will be encouraged even more by the facilities that Aspire can provide. It was mentioned that the merged business is planning to start a brand new iGaming program. The solution will involve specialists from Aspire and take all the current customer needs into account.
It was added that this merger is a significant milestone for everyone involved in the company. This smart business move represents the core values of the enterprise, one of which is the creation of successful partnerships. Following the deal, they plan to provide excellent content for wagering on competitive events, digital gambling, and lotteries.
Similarly, the CEO of Aspire stated that their company is one of the leading groups when it comes to gambling, which constantly works towards better production. In his opinion, the merger with the gambling industry giant may be just what the business needs, considering their previous acquisitions and partnerships with prominent brands. He believes that it is possible to achieve the goal of becoming one of the biggest iGaming suppliers together.
Future Plans
It is expected that the newly joined forces will return to work soon, with the head of NeoGames as CEO, while the Aspire leader will take over his responsibilities as President. Apart from that, there will not be any massive adjustments to the lineup of executives, and the existing ones will remain in their positions.
In the future, the merged entity is planning to hire new employees in addition to old ones, which are also expected to stay in their places. Even though the acquisition took place recently, the two business groups will continue selling their production separately from one another.
The recent deal will also give NeoGames a possibility to obtain all the creations released by Aspire and enter a few lucrative European, American and African markets. Contrary to that, their partner will establish itself on the market of the US.
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