Australian gambling operator Tabcorp Holdings has today confirmed that it has acquired ASX-listed gaming systems and technology provider INTECQ Limited for AUS $128 million (£74 million).
The acquisition sees Tabcorp strengthen its technical and operational capabilities by acquiring INTECQ systems (formerly eBet Gaming) specialists in gaming business intelligence tools and player loyalty reward programmes.
INTECQ currently services 1200 licensed venues with a network of + 70,000 gaming machines throughout Australia.
The acquisition will contribute directly to Tabcorp earnings with INTECQ recording net-profits of AUS $8.2 million (£4.7 million) for full-year 2015 performance.
INTECQ governance detailed that it had been in active negotiations with Tabcorp since April. Concluding its deal, the company stated it was ‘the perfect fit’ for Tabcorp and its gambling services.
David Attenborough, CEO of Tabcorp Holdings commented on the acquisition of INTECQ
“INTECQ has a track record of innovation. We look forward to combining capabilities to strengthen our market-leading gaming and venue services offering.”
Tabcorp governance is set to present its full-year 2016 financial results on Thursday, amid further industry speculation of corporate mergers and acquisitions in the Australian gambling market.