ralian slot machine manufacturer Aristocrat Leisure has announced the completion of a deal to acquire Israel-based social gaming company Plarium Global in a $500m deal.

The deal, which was initially agreed in August, sees Aristocrat pay an upfront fee of $500m cash and includes an earn-out arrangement payable to Plarium shareholders following the end of calendar years 2017 and 2018 respectively.

Aristocrat has confirmed that they have received all of the regulatory approvals required to complete the deal and will now take full ownership of the company.

Founded in 2009, Plarium is known for its various multiplayer online games such as Vikings: War of Clans, Terminator Genisys: Future War, Soldiers, Inc., Sparta: War of Empires, and Stormfall. The company has 1,200 employees in five different gaming studios and a number of offices in Europe, Israel and the US.

In a statement, Aristocrat’s Managing Director Trevor Croker said: “This acquisition is truly compelling as it increases our presence in the high-growth mobile gaming market and substantially increases the digital segment’s pro forma earnings contribution to Aristocrat.

“The acquisition reiterates our firm commitment to pursuing high growth adjacencies and increasing our recurring revenue base.

“Importantly, the acquisition is expected to be EPS accretive in year one, and key management personnel have remained in the business.

“We are delighted to have Plarium and its exceptionally talented team join the Aristocrat family; we look forward to continue building our already very successful digital business together, for the benefit of Aristocrat’s shareholders and other stakeholders.”