The board of Aspire Global has suggested that its investors agree to a buyout bid from NeoGames. The transaction prices Aspire Global at SEK 111.00 for each share, roughly equivalent to USD 12.29.
NeoGames first presented the offer to Aspire Global on January 17, 2022. The proposition detailed a blend of cash and newly minted shares to purchase all existing shares of Aspire Global.
A statement from Aspire Global verified that its primary stakeholders, holding 66.96% of the company’s shares and voting power, have committed to tendering their shares to NeoGames. This essentially clears the path for the acquisition, with remaining shareholders poised to receive SEK 111.00 in cash per share. This signifies a 41% increase over Aspire Global’s closing share price of SEK 78.5 on the day of the announcement.
The agreement values Aspire Global between USD 500 million and USD 600 million.
Tsachi Maimon, Chief Executive Officer of Aspire Global, remarked on the prospective merger: “Aspire Global is a top-tier, industry-leading, and comprehensive supplier for the regulated gaming sector. After acquiring Btobet and Pariplay, our latest investment in bingo, and the sale of the B2C division, the potential union with NeoGames would mark another significant milestone. It would cement our standing as a premier global provider across the entire iGaming and iLottery landscape.”
I firmly believe our organizations are an ideal pairing. The robust relationship we’ve cultivated through years of partnership will be crucial in realizing exceptional financial synergies.”
“Should this acquisition proceed, NeoGames will obtain Aspire Global’s distinctive product range. Concurrently, this empowers Aspire Global to utilize NeoGames’ current framework to hasten its penetration of the American market.”
“Aspire Global will maintain autonomous operations as the iGaming branch within the expanded entity. We foresee all personnel from both entities retaining their present roles. Mr. Maimon will continue as Aspire Global’s CEO and assume the position of President for the NeoGames Group.”
Moti Malul, NeoGames CEO, remarked: “This deal carries immense strategic weight for NeoGames and represents a potentially pivotal moment in our company’s trajectory.”
“We are certain that the fusion of our two thriving enterprises will establish a premier global supplier, encompassing all facets of online lottery, sports wagering, and gaming. This grants us a formidable worldwide footprint across numerous vital markets.”
