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IGT Enters into Definitive Agreement to Acquire iSoftBet
International Game Technology PLC (IGT) has announced that it has entered into a definitive agreement to acquire iSoftBet, a leading igaming content provider and third-party game aggregator, for approximately €160 million in cash.
The acquisition will more than double the IGT PlayDigital content library to approximately 225 proprietary games, in addition to providing a world-class, proprietary game aggregation platform to distribute third-party games, and leading 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,” Vince Sadusky, CEO of IGT, said.
The acquisition is expected to be completed during the second quarter of 2022, subject to the satisfaction of customary closing conditions.
Oakvale Capital LLP is acting as lead financial advisor to IGT. Wachtell, Lipton, Rosen & Katz is acting as legal advisor to IGT and KPMG LLP is acting as tax and financial due diligence advisor to IGT.
M. Firon & Co. and Wiggin LLP acting as legal advisor to iSoftBet. BDO Israel is acting as independent registered public accounting and tax firm of iSoftBet.
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Quantum continues expansion streak with two director-level new hires
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One of betting and gaming’s best-known customer acquisition and comparison businesses, Quantum, has announced the next steps in its ambitious growth plan by welcoming two new director-level appointees.
Joining the business are Dimitris Papamichael as commercial director and Luke Watkin as marketing director – both in newly created roles. They come in alongside a full C-suite and a full team of new tech hires that continues a recruitment drive which began in 2023 – and reflects Quantum’s rapid and consistent growth throughout the last five years.
Papamichael will be responsible for all revenue-generating activities across the business in a pivotal leadership role. He’ll shape Quantum’s commercial strategy as the company diversifies into new verticals while maintaining its strong position in the iGaming sector. He’ll also lead an expanding team of commercial and sales managers.
Watkin will lead the development and execution of the marketing strategy across all business verticals. As marketing director, he’ll be instrumental in shaping Quantum’s marketing vision, building scalable systems, and delivering commercial impact as it expands into new markets. Watkin will build and mentor a high-performing marketing team and is also tasked with driving further recruitment.
Speaking of the appointments and new strategic direction, CMO James McCarthy said: “It’s a pleasure to welcome Dimitris and Luke to Quantum during what is undoubtedly a really fascinating time in our growth. From cementing our relationship with some of iGaming’s biggest names to helping us expand into exciting new sectors, both of our new Directors will be integral to the continued success of the business.”
Papamichael said: “I’m thrilled to be joining Quantum at such an exciting stage of its incredible growth journey. The company has already achieved so much, and there’s huge potential ahead as we expand into new markets and sectors. I can’t wait to work with the exceptionally talented team here to seize the many opportunities ahead and drive the next phase of growth.”
Watkin said: “I am delighted to join a business with such a proven track record of excellence in its core markets, as well as highly ambitious plans for strategic expansion into new markets and territories. I am looking forward to contributing towards building on the exceptional progress the team has made to date, and accelerating that growth in the years ahead.”
This people news comes hot on the heels of the company’s exciting rebrand news of last week, moving toward the “quantum” in QiH Group” as well as redefining the business’ purpose and strategic direction.
The post Quantum continues expansion streak with two director-level new hires appeared first on European Gaming Industry News.
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FLY AWAY TO FORTUNE WITH ZITRO’S “RAINBOW BIRDS”
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The post FLY AWAY TO FORTUNE WITH ZITRO’S “RAINBOW BIRDS” appeared first on European Gaming Industry News.
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PHP13 MILLION UP FOR GRABS IN PAGCOR’S LINKED BINGO EVENT
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The post PHP13 MILLION UP FOR GRABS IN PAGCOR’S LINKED BINGO EVENT appeared first on European Gaming Industry News.
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