GTECH strikes deal to acquire Probability Plc
Interactive gaming software and services provider GTECH has agreed a deal to acquire specialist mobile gambling provider and operator Probability Plc.
The takeover, agreed through GTECH’s UK Interactive subsidiary, values Probability at £17.5 million (€21 million/$28.5 million) and is expected to be completed by the middle of this year.
“This acquisition is a significant step in GTECH’s ongoing efforts to meet the mobile gaming needs of our World Lottery Association (WLA) and commercial customers,” GTECH’s president of products and services, Renato Ascoli, said.
“Probability does not have a WLA presence and its products complement GTECH’s mobile product offering. The combination will generate operational synergies, primarily in research and development and games development.
“Technical integration and the resulting impact on time-to-market for Probability’s solutions is expected to progress rapidly as GTECH is a current customer in Italy and, as such, is integrated into Probability’s platform.”
Probability has developed a catalogue of more than 30 games compatible with over 3,500 mobile devices, including tablets, and serves between 800 and 1,000 different devices per day.
Probability, which is listed on the Alternative Investment Market of the London Stock Exchange, has licences to operate in the UK, Italy and Gibraltar and is in the process of developing US-ready systems.
Probability chief executive officer Charles Cohen added: “Having recognised the significance that mobile would play in the gaming sector earlier than most in the industry, Probability has invested the time and capital into technology and developed a deep understanding of mobile gaming dynamics.
“We enter into this transaction with the expectation that our combined knowledge and resources will drive future growth in mobile gaming for our customers.”
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