Bally Technologies has entered into a definitive agreement to acquire SHFL entertainment for approximately $1.3bn.
The transaction, which was unanimously approved by both the Bally and SHFL boards of directors, “combines two highly complementary and customer-centric gaming technology companies with a shared commitment to innovation to create a company offering the gaming industry’s most diversified suite of products.”
“Both Bally and SHFL have long histories of proven innovation, excellent customer service and successfully anticipating and adapting to changes within our industry, which makes bringing our two companies together a great strategic fit,” said Ramesh Srinivasan, Bally’s president and CEO.
“The transformational acquisition of SHFL will further enhance our ability to deliver future growth and serve our customers. SHFL’s intellectual property, renowned brands and industry-leading suite of diverse, high-performance products will enable us to offer an unparalleled offering of gaming products and services.”
“We believe that now is the right time to join forces with Bally as there is a unique opportunity to combine each other's many strengths, particularly our talented teams who have been the key drivers of success for each organization,” said Gavin Isaacs, SHFL’s CEO.
“It also represents an opportunity for our shareholders to receive a significant premium for their shares. Like SHFL, Bally focuses on creating both entertaining player experiences through high-performing content and state-of-the-art technological solutions to increase productivity on the casino floor.
“United, we become a larger, stronger organisation that we believe will best position the company for future growth. Equally important, we share a common vision to build the industry’s leading supplier based on delivering superior products, solutions and services to customers around the world.”
