CMA clears Inspired to acquire Gaming Technology Group
The UK’s Competition and Markets Authority (CMA) has given its approval to Inspired Entertainment’s proposed acquisition of Gaming Technology Group (GTG), a division of Austrian gaming equipment and solutions giant Novomatic’s UK subsidiary.
In June, Inspired entered into a definitive agreement to purchase GTG for $120m (£96.1m/€108.8m). The deal covers the six companies within GTG, including Gamestec Leisure, Playnation Limited, AstraGames Limited, Bell-FruitGroup Limited, Harlequin Gaming Limited and Innov8 Gaming Limited.
Inspired, which required the CMA’s approval to proceed with the acquisition, now said it expects to complete the purchase on or about October 1, 2019, subject to various other customary closing conditions.
“We are pleased to have received approval from the CMA and are grateful for their diligence and efficiency in reviewing the transaction,” Inspired’s executive chairman, Lorne Weil, said.
“The anticipated successful completion of this acquisition is expected to be an exciting step forward in the evolution of Inspired into a global gaming company with a comprehensive portfolio of products and services and world-class functional expertise in the gaming industry.”
Upon announcing the initial agreement, Inspired said GTG’s Category B3, C and D games businesses would complement its B2 and B3-focused operations, allowing it to diversify its UK business and expand into new sectors.
Gamestec supplies UK pubs with various gaming machines, while Innov8 Gaming is a gaming machine developer providing Category B3 and C gaming machines within NTG and to external customers. Playnation provides terminals for the UK holiday and leisure industry.
AstraGames manufactures and provides Category B, C and D gaming machines, whereas Bell-FruitGroup mainly sells Category C machines to European markets. Harlequin Gaming runs as the game development studio for both AstraGames and Bell-FruitGroup.
Should the acquisition go through as expected, Inspired would manage more than 75,000 gaming machines across the UK and Europe.