× Gambling News In-Depth iGaming Calendar Connections GI Friday Trafficology GI Magazine GGA 2019 AffiliateCon
NEWS 20 October 2017

Intralot Group completes acquisition of Bit8

By Robert Simmons
Worldwide gaming company The Intralot Group have announced the agreement of share purchase of 65% of maltese gaming technology company Bit8, a deal which makes them a 100% shareholder in the company.

Intralot Group began its initial acquisition of Bit8 in 2015, purchasing a 35% share in the business, which they have now increased to full ownership of the business. The company have confirmed that Bit8 Founder Angelo Dalli, will remain in the Board of Directors of Bit8 offering strategic advice for further development of the company.

2017 has been a good year for Intralot, in which the company posted a 20.6% rise in its worldwide revenue during the first quarter of the year rising to €367.9m, while the company recently signed a $5m, three-year extension to its existing contract with the Vermont Lottery group.

Intralot Group CEO Antonios Kerastaris stated: “I am very excited to complete the acquisition of Bit8 by Intralot at the end of a two-year joint product development partnership. “

“Bit8 today becomes a full member of the Intralot family, carrying enormous promise for future growth and product development by playing an important role in the successful deployment of our ‘All About the Player’ product design strategy.”

Bit8 CEO and Founder Angelo Dalli added: “I am thrilled for the success of our cooperation with Intralot and today’s development that promises to bring a new cycle of growth, portfolio enhancement, and international recognition for Bit8.“

“Like every Founder who has worked hard for the creation of a successful company I am proud about the company’s evolution and look forward to our future cooperation to reach new targets.”

RELATED TAGS: Online | Lottery | Mergers & Acquisitions
IN-DEPTH 12 February 2019
Lies, damned lies and board reports
Industry veteran Kevin Dale offers tips to get the most out of revenue reporting in the boardroom