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Novomatic is selling its Novomatic UK Ltd. to Inspired Entertainment Inc. for a massive $120 MILLION.

Their reason for selling is in an attempt to help Inspired Entertainment Inc. expand its services in Europe. The purchase will enable Inspired to take over more than 75,000 gaming machines across Europe.

Inspired CEO Lorne Weil had this to say, "The potential acquisition of NTG is transformational for Inspired, enabling us to dramatically increase the size, scale and scope of our business by combining our highly complementary, but largely non-overlapping, businesses. We expect to leverage our superior game content, technology, operational capabilities and respective footprints to augment the existing growth trends for our enterprise."

"Inspired and NTG currently operate in different segments but have much in common in terms of providing resources for our customers and their consumers. This combination would provide additional resources for our core businesses and combine the great content and machine portfolio from each. We expect to be able to deliver meaningful value to our shareholders as the acquisition is integrated."