GTECH Tender £18m for Probability PLC

Business news sources the Wall Street Journal and Interactive Investor report that shares in Probability PLC have rocketed by 47.6% to 46.50 pence in the wake of news of a recommended cash acquisition by gaming and lotteries software supplier GTech Group.

News sources report that GTech are prepared to acquire the mobile gaming operator, for a sum of £18m. The deal will see the full acquisition of Probability gaming brands – Ladylucks Casinos, Moobile casino and the operators technology operations.

The deal which has been given the permission to go ahead by the Probability board of directors, will signify that shareholders in the company will receive a 59% premium on Mondays closing price of 31.50 pence. Currently Probability directors account for 11.5% of the company’s current share holdings.

The acquisition by GTech, sees the software supplier move into the mobile gaming space. Probability offer B2B turnkey mobile gaming solutions for partners, Probability mobile B2B customers include Ladbrokes and Paddy Power. The likely acquisition of the mobile gaming operator will be GTech’s fifth in the digital gaming/gambling space.  Back in 2007 GTech acquired gaming technologies and igaming services providers – St Minver, Boss Media, Finsoft and Dynamite Idea to form the now deceased – GTech G2.

Charles Cohen Founder and CEO of Probability PLC issued the following statement: ‘The board and management of Probability are fully supportive of this transaction, which it believes is in the best interests not just of Probability shareholders, but also of all of Probability’s employees and customers. By becoming part of the GTECH Group, Probability will be able to leverage its technology, mobile expertise and customer relationships on a global basis,”

GTech have yet to comment on the potential acquisition of Probability PLC