Terms of the agreement were not disclosed, but it was confirmed that the purchase price combines cash and newly issued shares.
The deal includes 27 of Spigo’s casino games and eight customer integrations, including two with Danske Spil’s Spillehørnet and Tivoli Casino B2C brands.
The agreement also covers Spigo’s Denmark-certified platform Spigo Station and Spigo SDK, a technical solution for accelerated game development.
Lady Luck Games expects the transaction to complete before the end of September.
“This is a strategic acquisition for the company; it will give us important revenues, open up new revenue opportunities and improve our profitability,” Lady Luck Games co-founder and chief executive Mads Jørgensen said.
“We are adding casino games with a strong track record and several years of continuous growth to our already strong product portfolio, together with an important technical aggregation platform.
Spigo’s founder and majority owner, Kasper Kau, will now take on a new director of business development role, alongside Spigo’s three experienced game developers.
Kau said: “We have been looking for a partner for a long time to take Spigo to the next level and now we have finally found the perfect match. We felt that Lady Luck Games respected our history while sharing a long-term vision.
“We are convinced that this will give us the right conditions to develop Spigo further and see great potential synergies where Lady Luck Games’ slots will add value for our existing customers while strengthening our commercial position.”
