The Competition and Markets Authority has cleared the $120 m Gaming Technology Group (NTG) takeover by Inspired Entertainment from Novomatic Great UK.
This follows on from the announcement by the NMG that it was studying the suggested agreement in July, stating that it was important to assess whether the establishment of an expanded organisation would lead to a significant reduction in rivalry within the UK industry.
Inspired announced a definite arrangement to conclude the contract on 11 June, with the CMA’s authorization as a critical condition.
After this announcement, the firm intends to finish the NTG takeover by 1 October 2019, subject to the other usual closing circumstances.
Lorne Weil, executive chairman of Inspired said: “We are pleased to have received approval from the CMA and are grateful for their diligence and efficiency in reviewing the transaction.
“The anticipated successful completion of this acquisition is expected to be an exciting step forward in the evolution of Inspired into a global gaming company with a comprehensive portfolio of products and services, and world-class functional expertise in the gaming industry.”
The acquisition of the Novomatic Group subsidiary, which provides gaming terminals for advertising, arcades, motorway service areas and vacation destinations in the UK for categories B3, C and D, inspires the acquisition of more than 75,000 gaming equipment across the region and Europe.
NTG includes Gamestec Leisure, Playnation, Astra Games, Bell-Fruit Group, Harlequin Gaming and Innov8 Gaming with Inspired emphasis that it hopes to attain synergies between $12.3 million and $13.3 million through joint expense and scale.
The project will endeavor to extend the offering, take different gaming products to fresh industries and geographies, speed up important development projects, and provide improved capacities, services, field services and content.