Inspired Entertainment, Inc. (known prior to completion as Hydra Industries Acquisition Corp.), confirmed the company’s business combination with Inspired Gaming Group has been successfully completed.
The transaction was unanimously approved by the boards of directors of both companies and was approved by approximately 89 percent of Hydra’s stockholders on December 22. With the closing of the transaction, IGG has become a wholly owned subsidiary of Inspired. Inspired will continue to trade on NASDAQ under the tickers INSE and INSEW for the common stock and warrants, respectively, effective Wednesday, December 28, 2016.
“We are truly delighted to combine the respective management teams of Hydra and Inspired,” said Lorne Weil, executive chairman of Inspired Entertainment, Inc. “Luke Alvarez and his team created a company whose products entertain and are played by millions of end customers through a broad range of distribution channels. We believe Inspired is uniquely positioned to expand the distribution of its unique and cutting-edge content, and are excited to embark on building out this world-class business.”
Luke Alvarez, president and CEO of Inspired, added, “Over the last 15 years, Inspired has established itself as a leading provider of content and technology to the global gaming industry, focused on ‘Entertainment with an Edge.’ We are thankful to our investors, our customers and our players for helping us achieve today’s milestone. I look forward to working with Lorne, his team, and our public shareholders to bring our products to new markets and to take Inspired to the next level.”
