IGT Announces Agreement to Purchase iSoftBet
International Game Technology PLC (IGT) has revealed that it has reached an agreement to acquire iSoftBet for approximately €160 million in cash.
iSoftBet is a leading iGaming content developer and aggregator. In the 2021 fiscal year, the company generated revenue of roughly €30 million and EBITDA of €8 million. The company has developed more than 125 proprietary games, and more than 4,600 games are available through its Game Aggregation Platform.
iSoftBet has offices in England, Malta, and Romania, and it employs around 350 people. At present, it supplies games to roughly 260 operators, and its games are licensed by 20 European regulators, including the UKGC and MGA.
Thanks to the deal, IGT will be more than doubling its IGT PlayDigital content library. It is set to include approximately 225 proprietary games. At the same time, IGT will be able to offer its customers a proven proprietary game aggregation platform to distribute third-party games together with data-driven promotional and user-engagement tools.
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. 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.
It is expected that the acquisition will be completed in the second quarter of this year, subject to the satisfaction of customary closing conditions.