Toronto TSX-listed gambling technology provider NYX Gaming Group (NYX) continues its M&A expansion by confirming that it has agreed to acquire UK-based gaming content and systems supplier Betdigital.
Oxford-based Betdigital, a specialist multi-channel gaming systems developer for online, interactive, TV, land-based and mobile verticals has been valued at a maximum consideration of £24.5 million, the equivalent to 2.51x its EBITDA multiple.
Detailing acquisition terms, NYX governance stated that the deal earn-out has been set over a period of three-years dependent on the future performance of its acquired asset.
Updating the market NYX governance stated that acquisition would bolster its cross-channel capabilities and further exploit commercial opportunities for its existing industry games development studio.
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.”
Confirming the deal Matt Davey, Chief Executive Officer, NYX Gaming Group commented, “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.”
This May NYX completed its £270 million joint acquisition of leading sports betting technology provider OpenBet with in partnership William Hill and Sky Betting & Gaming