Aspire Global will cease trading on Nasdaq Stockholm following its $423.5m acquisition by NeoGames.
Nasdaq Stockholm has approved the B2B igaming solutions provider’s delisting application and it has been agreed that the last day of trading in Aspire shares on the Nasdaq First North Premier Growth Market will be 4 July 2022.
Online lottery platform provider NeoGames in January launched a public offer worth SEK4.3bn (£344.1m/€402.3m/$423.5m) to acquire 100% of the shares in Malta-headquartered Aspire, which operates in 31 regulated markets across Europe, North America, Latin America and Africa. The deal was completed earlier this month.
The combined business will be led by Moti Malul, the current chief executive of NeoGames who will remain in this role for the enlarged group, and Raviv Adler as chief financial officer.
Tsachi Maimon, chief executive of Aspire, will serve as president and lead the newly formed igaming division.
Speaking about the deal recently, Malul said: “We are thrilled to complete this strategic transaction with the Aspire Global team, and to commence working on identifying potential opportunities to capitalise on the merger of our platforms.
“We believe this strategic combination will generate long-term shareholder value by synergistically capitalising on the key strengths of our two companies and will help position NeoGames for expansion in new and existing markets.”
Aspire last month reported record revenue for the first quarter of its financial year. Revenue for the three months to 31 March 2022 amounted to €46.3m, up 33.4% from €34.7m in the corresponding period last year and a new quarterly record.
Revenue from the Pariplay aggregation and games segment increased 38.5% to €9.0m, driven by 17 new operator deals agreed during the quarter, while revenue from the BtoBet sports betting business jumped 88.3% to €4.4m.
Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 18.8% to €8.2m, while after accounting for €2.7m in depreciation and amortisation, this left an operating profit of €5.6m, up 14.3% year-on-year.