Global Cash Access (GCA), a provider of cash handling solutions and business intelligence services, has agreed to acquire gaming technology developer and distributor Multimedia Games for an aggregate purchase price of $1.2 billion (€931.9 million) in cash.
Under the deal, GCA will acquire all the outstanding stock of Multimedia Games for $36.50 per share.
The agreement has been unanimously approved by the boards of both firms.
“The acquisition of Multimedia Games represents a gaming-relevant transformational opportunity to combine two companies with rich gaming heritages and uniquely positions GCA as an important strategic partner to gaming operators by offering them deeper and more integrated solutions across their entire gaming floor,” GCA president and chief executive officer, Ram Chary, said.
“This acquisition further strengthens and broadens GCA’s portfolio of solutions, which has been embraced by our customer base.”
Patrick Ramsey, chief executive officer of Multimedia Games, added: “We are excited about the opportunity this combination provides to leverage Multimedia Games’ creative and innovative game development capabilities with GCA’s expansive customer base to provide best-in-class, integrated solutions to the gaming community, and deliver increased value and scale to our respective customers and employees.”
source : www.igamingbusiness.com