Joined: 4/2/2016(UTC)
Posts: 2,364
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Game developer NetEnt has announced that they will be purchasing Red Tiger Gaming for a whopping £223 million. The agreement that they have signed will see Red Tiger's owners being paid £200 million up front as well as an extra payment of up to £23 million in the year 2022. With this deal Red Tiger, which has 170 employees, will become part of becoming part NetEnt's. NetEnt has decided to pay for the deal using debt financed by Nordea and Danske Bank. NetEnt's CEO Therese Hillman had this to say, "I am very pleased to welcome Red Tiger into the NetEnt Group. The acquisition combines two of the leading and most innovative companies in the online gaming industry. We look forward to working with Red Tiger's fantastic team to enhance our combined global reach and to offer further value to operators and players. The transaction will provide significant revenue synergies across our markets worldwide."Red Tiger CEO Gavin Hamilton said, "This is an exciting new stage of the Red Tiger story and we are delighted to become part of the NetEnt group. Accessing NetEnt's unparalleled distribution network and geographic footprint will unlock new opportunities for Red Tiger and will further accelerate our growth. At Red Tiger we'll remain focused as always on driving further innovation and we are looking forward to working with NetEnt on how to leverage our combined capabilities to create new products that wow our customers."
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