NYX Gaming, a popular provider of digital gaming solutions, has just announced it is about to ink a deal for the acquisition of OpenBet. The latter is a Chiswick-based sportsbook and gaming software company, owned by Vitruvian Partners and it was acquired for the staggering amount of £270 million. However, it is important to note that William Hill and Sky Betting & Gaming are also included in the deal.
According to the contract clauses, the Toronto-listed NYX has agreed to pay the full consideration to Vitruvian Partners in cash. As much as £95.4 million of that amount have been set aside for a third party OpenBet debt.
The acquisition puts an end to a prolonged bidding process and rumour has it that Paddy Power Betfair, NetEnt, and Playtech were also interested in investing in OpenBet.
William Hill and Sky Betting & Gaming, which are OpenBet customers, made a combined investment into NYX. William Hill and OpenBet are expected to join forces for a massive 3-year development project aimed at modernising the technology OpenBet uses.
NYX representatives were reached for a comment and they said the OpenBet acquisition enables them to offer their customers a comprehensive range of gambling products and considerably boost NYX revenue.
Matt Davey, CEO of NYX, also said that OpenBet acquisition makes NYX a leading supplier of top-notch gambling solutions worldwide and added he was impatient to work with OpenBet customers and ensure their unparalleled gambling experience.
Richard Flint, CEO of Sky Betting & Gaming, said he was confident NYX would manage to bring a fresh perspective to the industry via OpenBet acquisition.
James Henderson, William Hill’s CEO, defined the acquisition as a major step towards developing a state-of-the-art gambling platform along with the development of a separate back-end platform.
NYX officials confirmed that the deal is expected to be completed sometime in May and for the time being, no changes in the management have been planned.
Jeremy Thompson-Hill,an OpenBet manager, commented on the matter and said that the joining of NYX and OpenBet enabled them to use their resources and provide customers with first class gambling products.
Although Paddy Power Betfair is not included in the deal, James Midmer, company’s head of corporate communications, expressed his hopes that Paddy Power Betfair will continue working in collaboration with NYX and OpenBet and remained confident that customers will be provided with excellent services.
