iSoftBet Acquired by IGT in €160m Deal
International Game Technology (IGT) has completed the acquisition of iSoftBet, the UK-based developer of online casino games and technology, in a deal that was worth approximately €160 million in cash.
As a result of the acquisition, IGT has roughly doubled the size of its Play Digital portfolio, and there are now approximately 225 games available. All of the new titles will become available to IGT's partners in the company's licensed jurisdictions.
Furthermore, IGT has gained the ability to distribute third-party games through iSoftBet's proprietary game aggregation platform, together with the developer's promotional and user engagement tools.
IGT announced that it intended to acquire iSoftBet in April 2022 as part of the company's plans to increase its in-house casino game and solution development capabilities.
iSoftBet has a vast portfolio of more than 400 titles, including the newly released Rise of the Genie and Wolf Canyon Hold & Win. It also offers several technology solutions, management tools, and ePayment integration systems. The company has offices in England, Malta, and Romania and roughly 350 employees. Its games can be found with many leading operators and are licensed by 20 European regulators, including HGC (Hellenic Gaming Commission) and UKGC (UK Gambling Commission).
When the acquisition was announced, IGT's CEO Vince Sadusky explained:
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.