Aspire Global Bid Committee recommends accepting NeoGames offer
The Bid Committee of Aspire Global has recommended to shareholders to accept the offer from NeoGames to acquire the company for SEK 111.00 ($12.29) per share.
The public tender offer was made by NeoGames to the shareholders of Aspire Global on 17 January 2022, to tender all of their shares in the company to NeoGames for a consideration of a combination of cash and newly issued shares.
A statement from Aspire Global read: “Aspire Global’s main shareholders, who in aggregate own shares corresponding to 66.96% of all shares and votes in Aspire Global, have entered into irrevocable undertakings that enable the other shareholders in Aspire Global to tender their shares to NeoGames and receive 100 percent cash consideration corresponding to SEK 111.00 per share tendered in Aspire Global representing a premium of 41% compared to today’s closing price of SEK 78.5 for Aspire Global’s share.”
The group noted that the value of the company is between $500m-600m.
“Aspire Global is a high quality, leading supplier with a one stop shop in the regulated gaming industry,” said Aspire Global CEO Tsachi Maimon. “Following the acquisition of Btobet, Pariplay, the recent investment in bingo and the divestment of the B2C division and now this potential merger with NeoGames, we will create a leading global supplier for the entirety of the iGaming and iLottery space overnight.
“I strongly believe that the two companies are well matched with a solid cultural connection forged over many years of working together which will facilitate meaningful revenue synergies.”
If the acquisition goes through, NeoGames will gain access to Aspire Global’s proprietary products, while the latter will accelerate its US entry plans through the existing presence of the former.
Aspire Global will continue to act independently and as an iGaming division in the wider group, with all employees of both companies expected to continue as normal. Maimon meanwhile will remain as CEO of Aspire Global group and will be appointed as President of the NeoGames group.
NeoGames CEO Moti Malul commented: “This is a highly strategic and transformational transaction for NeoGames that represents perhaps one of the more important milestones for us as a company.
“We believe that the combination of our two very successful companies will create a leading global provider across all forms of online lottery, sports betting and gaming that would have significant global active presence in many key markets.”
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