International Game Technology is looking to acquire iSoftBet
As one of the biggest and most iconic companies within iGaming, IGT (also known as International Game Technology) is looking to expand its game portfolio and reach as the firm enters an agreement to acquire iSoftBet.
It's reported that the acquisition will cost €160m in cash and is expected to be completed during the second quarter of 2022 - subject to satisfaction of customs and closing conditions.
Double IGT's portfolio
This move will double IGT's PlayDigital portfolio and will see the company gain iSoftBet's proprietary game aggregation platform and be able to distribute third-party games as well as other tools in the software.
Oakvale Capital is the lead financial advisor to IGT with M. Firon & Co. and Wiggin acting as legal advisors to iSoftBet.
"Enhance PlayDigital's competitive capabilities," says IGT
“The acquisition of iSoftBet will provide market-tested proprietary digital content, advanced game aggregation capabilities, scalable promotional tools, analytics and strong creative talent to IGT’s PlayDigital operations,” said Vince Sadusky, IGT CEO.
He added: “This will enhance PlayDigital’s competitive capabilities with a proven, complementary content portfolio across Europe and North America as we provide best-in-class games and technology to our fast-growing iGaming customers.”