Developer of gaming content NYX Gaming Group Ltd. announced that the purchase of Game360 Ltd. had been completed. As NYX Gaming pointed out itself, it will pay for the acquisition by means of cash on hand.
The gaming software developer was advised by Elmcore Securities LLC on financial matters related to the purchase. Ficom Leisure advised Game360.
Game360 is known to develop and distribute native and HTML5 mobile solutions as well as sports betting software to a number of gambling operators that provide their services on the Italian regulated market. NYX Gaming pointed out that through buying the afore-mentioned company, it would be able to deliver its casino content portfolio to Italian customers and to start offering Game360 products to its international customers.
Matt Davey, Chief Executive Officer of NYX Gaming, noted that by taking advantage of the relationships Game360 has developed with its Italian customers, his company will be able to increase its revenue opportunities and to further expand its operations. In addition, he pointed to the fact that NYX Gaming will be able to introduce Game360’s product offering to the international market.
Andrea Guzzon, Chief Executive Officer of Game360, commented that they are extremely excited to be given the opportunity to become part of NYX Gaming. He also stated that the transaction will result in his company increasing its portfolio of gaming solutions that are delivered to its Italian customers and introducing its most popular games to international ones.
The purchase of Game360 is part of NYX Gaming’s strategy to expand its presence in various regulated markets, attract more customers, and strengthen its main operations. Once the acquisition deal is complete, the gaming software developer will not only introduce its operations and products in Italy, but will also acquire presence in Rome.
Game360 is to join a number of other companies that NYX Gaming has previously purchased. Back in April, it announced that it was to buy Chartwell Technology Inc. and CryptoLogic Ltd., both of which former subsidiaries of Canadian gaming company Amaya Inc., for the amount of C$150 million.
In November 2014, NYX Gaming acquired yet another former Amaya subsidiary – the so-called B2B poker network Ongame Network. It was announced back then that the price for the acquisition was equivalent to eight times the EBITDA Ongame was to generate in 2015, less working capital.
