NYX Gaming Group has acquired OpenBet for 270 million pounds, the company announced.
The Toronto-listed NYX Gaming Group entered a ‘binding share agreement’ to purchase Openbet from private equity firm Vitruvian Partners LLP.
The £270 million acquisition includes repayment of the firm’s existing £95 million debt, according to a report in PokerNews.
The acquisition will be co-funded by betting operators William Hill and Sky Betting and Gaming who are set to contribute a total of £100 million in equity investment, the report said. Online reports had William Hill putting up 80 percent of the investment. William Hill also reportedly signed a 10-year agreement with NYX, which includes development of a new omni-channel platform over the next three years.
As part of the deal, NYX is also selling its European Poker Business, which is part of subsidiary OnGame, but will retain a significant portion of the business and exclusive rights to operate in North America, the company said.
The acquisition joins two established and proven suppliers to deliver a leading end-to-end solution for regulated gaming markets. The combined strength of the two businesses will provide customers around the globe with premium betting and gaming solutions across all channels, the company said in a press release.
“The acquisition of OpenBet by NYX completes the portfolio of industry leading products and services we offer to our customers,” said Matt Davey, CEO of NYX. “They are two highly complementary businesses with key strengths in regulated markets, technology services and gaming content. It positions NYX as the leading provider of B2B betting and gaming solutions on a global scale. We are looking forward to working with OpenBet and their customers to help them deliver world class experiences to their players.”
OpenBet was founded in 1996 and is a leading supplier of online and in-venue based sports betting and gaming solutions. The platform powers the largest share of the world’s online bets: taking over a billion sports bets in 2014, the release said.
