IGT has sealed an agreement to acquire iGaming content provider iSoftBet for approximately €160m in cash.
The purchase is expected to more than double IGT’s PlayDigital content library to around 225 proprietary casino games.
IGT will also gain access to iSoftBet’s in-house game aggregation platform, allowing it to distribute third-party titles.
For fiscal year 2021, iSoftBet generated revenue of approximately €30m and EBITDA of €8m, representing a 20x purchase price multiple.
The provider’s portfolio includes around 125 proprietary games and more than 4,600 third-party titles, while the company boasts 350 employees in locations including England, Malta and Romania.
Oakvale Capital served as lead adviser to IGT on the acquisition, which is expected to complete in Q2 2022 subject to closing conditions.
“The acquisition of iSoftBet will provide market-tested proprietary digital content, advanced game aggregation capabilities, scalable promotional tools, analytics and strong creative talent to IGT’s PlayDigital operations,” said IGT CEO Vince Sadusky.
“This will enhance PlayDigital’s competitive capabilities with a proven, complementary content portfolio across Europe and North America as we provide best-in-class games and technology to our fast-growing igaming customers,” he added