Adventure Box Pens Letter of Intent to Acquire RWB Smart Solutions

Adventure Box, a Stockholm-based computer game technology company, announced that it has submitted a non-binding letter of intent (LOI) to acquire RWB Smart Solutions. By securing a 100% stake in the Asia-based casino solutions company, Adventure Box would be able to greatly expand its presence in Asian iGaming.

Adventure Box Sets out to Acquire RWB

According to Adventure Box’s official announcement, the strategic acquisition will bolster its global footprint, drive operational efficiencies and “fuel breakthrough innovation across its portfolio.”

As per the LOI, the Swedish company seeks to assume control of RWB by acquiring all of its outstanding shares. As a result, it will assume full ownership of the latter company’s product portfolio, assets and intellectual property.

If approved, the transaction will see Adventure Box pay $18 million to acquire RWB in one go. The arrangement has yet to secure approval at an upcoming Extraordinary General Meeting. In addition to that, it is subject to customary due diligence and regulatory clearances.

RWB’s unaudited financials outline a 2024 revenue of $20 million and EBITDA of $10 million. The company also says that it has processed close to $1 billion in turnover. These financials will be reviewed by third-party auditors before the closing of the deal.

Adventure Box is currently reviewing various financing proposals for this transaction, meaning that it is also subject to securing financing. If everything goes smoothly, the deal should close in early Q2, 2025.

The Acquisition Will Drive Synergies

According to Adventure Box, the acquisition of RWB would “drive significant synergies and cost savings in product development and customer service.” It is expected to contribute to the former company’s growth and delivering further shareholder value.

RWB, for context, has cemented itself as an innovative up-and-coming company. Over the past five years, the business has managed to achieve a 300% growth in gross gaming revenue, thanks to its cutting-edge software platform.

RWB also boasts critical agreements with key casino providers, which will further elevate Adventure Box’s business.

A Mutually-Beneficial Tie-up

According to Duncan McIntyre, Adventure Box’s chief executive officer, the deal would mark an exciting new chapter for both his team and RWB. According to him, the integration would empower Adventure Box, supplying it with key iGaming solutions and Asian market expertise.

In turn, RWB’s brands would become Adventure Box’s flagship B2C assets for Asia.

James Chung, strategic advisor of RWB, was likewise excited about the deal, which would unlock “tremendous potential” for his team. He said: “We look forward to collaborating closely with the Adventure Box team to accelerate innovation and address the evolving demands of the iGaming market.”

Other Noteworthy Mergers Were Struck

Speaking of M&A agreements, Light & Wonder just announced that it has signed a deal to acquire Grover Gaming’s charitable gaming business, Grover Charitable Gaming. That agreement will likewise unlock benefits for both companies as it will allow Grover to grow, while providing Light & Wonder with new charitable gaming opportunities.

Elsewhere, North Star Network joined the world of iGaming by acquiring the iGaming affiliate Bojoko.