NYX Gaming Group Limited announced Tuesday May 31, 2016 that it had acquired Betdigital, a UK based supplier of gaming content and platforms.
A statement from NYX Gaming Group says the acquisition of Betdigital – a creator of content and systems for online, mobile,
interactive TV and land-based gaming platforms – is a means by which they intend to serve UK retail and online gaming market using Betdigital state-of-art game
development platform and studio.
Betdigital will also provide NYX with the ability to further exploit opportunities for games development and leverage existing NYX studios for game design and art.
The statement further says the purchase price consists of an upfront cash payment and earn out over three years. The maximum aggregate consideration including upfront and earn out is £24.5
million, equivalent to a 2.51x EBITDA multiple. The total assets acquired were less than 5% of NYX Gaming Group’s total assets
at March 31, 2016.
Heath Samples, CEO & General Counsel, Betdigital stated, “We are well-positioned to help NYX gain maximum returns from their plans for omni-channel expansion. Being a part of the NYX family will accelerate Betdigital’s growth story by leveraging the cross sell opportunities available with the
NYX customer base and by providing them with world-class content.”
Matt Davey, Chief Executive Officer, NYX Gaming Group adds, “In Betdigital, we have identified an asset that will strengthen our
reach and underpin the global content strategy of the company. Particularly, Betdigital allows NYX to strengthen its position in the UK market, providing another
unique flavor of regional expertise and omni-channel content that will benefit NYX and OpenBet customers and shareholders
immediately and over the long term.”.