NeoGames Looks Set to Acquire Aspire Global
Aspire Global's Bid Committee has recommended that NeoGames' offer to acquire the company for SEK111.00 per share should be accepted by shareholders.
NeoGames made the public tender offer on 17 January to shareholders to tender all of their shares in Aspire Global to NeoGames for consideration of a combination of cash and newly issued shares.
Aspire Global's main shareholders, who in aggregate own shares corresponding to 66.96% of all shares and votes in Aspire Global, have entered into irrevocable undertakings that enable the other shareholders in Aspire Global to tender their shares to NeoGames and receive 100 percent cash consideration corresponding to SEK 111.00 per share tendered in Aspire Global representing a premium of 41% compared to today's closing price of SEK 78.5 for Aspire Global's share.
Speaking about the proposed acquisition, Tsachi Maimon, Aspire Global's CEO, said that following the acquisition of BtoBet, Pariplay, and the company's recent investment in bingo, the potential merger with NeoGames would create "a leading global supplier for the entirety of the iGaming and iLottery space overnight." He added that he believes the companies are well matched and that their "solid cultural connection" will "facilitate meaningful revenue synergies."
Should the acquisition take place, it will give NeoGames access to Aspire Global's proprietary products. Furthermore, it will speed up Aspire Global's entry into the US gambling market. It would see Aspire Global continue to act independently, with Maimon remaining as CEO of the Aspire Global Group. He would also become President of the NeoGames group.
This is a highly strategic and transformational transaction for NeoGames that represents perhaps one of the more important milestones for us as a company. We believe that the combination of our two very successful companies will create a leading global provider across all forms of online lottery, sports betting, and gaming that would have significant global active presence in many key markets.