NOVOMATIC to Acquire the Remaining Ainsworth Shares for $1 Apiece

NOVOMATIC, Europe’s largest gaming technology group, announced that it has signed a deal with Ainsworth Game Technology to cement its ownership in the latter company.

NOVOMATIC to Acquire the Rest of Ainsworth

According to NOVOMATIC’s official announcement, it has entered into a scheme implementation deed with Ainsworth, agreeing to acquire its remaining shares for a best and final cash consideration of $1.00 per share through a scheme of arrangement.

For context, NOVOMATIC bought a 52.9% majority stake in Ainsworth back in 2016 from founder Len Ainsworth. If the current agreement is closed, it would cement NOVOMATIC’s ownership.

The deal has yet to receive approval form Ainsworth’s shareholders, although Ainsworth’s Independent Board Committee recommended that they approve the deal. If approved, the deal is expected to close in the second half of the year.

NOVOMATIC added that the agreement is not conditional on due diligence or regulatory approvals. It also mentioned that it has already received approval from the Foreign Investment Review Board.

Ainsworth Will Complement NOVOMATIC’s Business  

For context, Ainsworth is an ASX-listed developer of slot machines. Headquartered in Sydney, Ainsworth operates on a global level, supplying its products to operators across the Australasia and the Americas.

The acquisition of Ainsworth’s outstanding shares reflects NOVOMATIC’s ambition to cement its position as a full-service gaming provider. Already active in 130 countries, the European B2B giant employs some 26,200 people who help it supply content to its countless partners.

The Deal Reflects NOVOMATIC’s Broader Strategy

Stefan Krenn, a member of NOVOMATIC’s executive board, weighed in on the new deal, saying that it is consistent with the group’s international growth strategy, as well as its aim to expand its presence in the Asia-Pacific and the US region.

Krenn added that NOVOMATIC is already familiar with Ainsworth’s business and is looking forward to permanently integrating its products into the broader NOVOMATIC operations.

As a long-term shareholder we are familiar with the business and believe that integrating Ainsworth into our operations is in the best interest of this strategy. We look forward to welcoming the highly qualified and experienced Ainsworth employees into the NOVOMATIC family to become part of our international growth and success.

Stefan Krenn, executive board member, NOVOMATIC

In other news, NOVOMATIC just announced a new tie-up with Harvest Gaming, which was hailed as an important step for the former company’s growth in Asia.