Contagious Gaming has entered into a definitive agreement to acquire all of the issued and outstanding common shares of Digitote Limited and Digitote Software GmbH Deutschland for a purchase price of CAN$7.2 million (€4.8 million/US$5.5 million).
As reported by iGaming Business, Contagious in May confirmed that it has struck a deal to acquire Digitote for approximately €5 million.
The developer of software solutions for lottery and gaming in August said that the deal should be completed in mid-September, with yesterday’s (Monday’s) confirmation only slightly behind schedule.
Contagious also noted that Digitote will be acquired free of any long-term debt and shall be delivered with positive working capital.
“We are delighted to announce that we have entered into a definitive agreement to acquire Digitote which expands and enhances our sports betting offering,” Contagious chief executive and director, said Peter Glancy, said.
“The acquisition enables us to provide our existing and new customers with a fixed-odd sports betting platform alongside Goal Time.
“Digitote’s software has a 30-year history as an extremely robust sports betting platform with a proven track record of handling over $10 billion of web, mobile and land-based wagers throughout Europe.”
Guenter Boyks, chief executive of Digitote, added: “The combined synergies offer huge potential with significant opportunities to expand into international markets and grow the combined entities revenues.”
source : www.igamingbusiness.com