Adventure Box Technologies has entered the igaming industry by acquiring Lion Gaming for SEK475m (£35.4m).
The acquisition of the white-label sportsbook and casino solutions provider will be paid by newly issued shares in Adventure Box at a share price of SEK0.40 (£0.02) per share.
The deal will also incorporate Lion Gaming’s Fer0x Engine, which allows operators to offer players a range of experiences by facilitating Web3 solutions, blockchain technology and NFT integrations.
Adventure Box has its roots in computer game technology and provides streamed games via its KoGaMa platform, allowing users to create, share and play 3D computer games.
The company’s chairman of the board, Mads Jørgensen, said Adventure Box sees “opportunities for synergies between the KoGaMa platform and Lion's gaming platform.”
Adventure Box CEO Michal Bendtsen said: “This acquisition not only broadens our scope and capabilities within the gaming ecosystem but also introduces new revenue streams. “We are confident that this will bring value to our shareholders and accelerate our growth trajectory in the ever-evolving gaming market.”
Lion Gaming Group CEO Duncan McIntyre said the company will benefit from Adventure Box’s “extensive experience and resources to further develop our business.”
“This merger gives us the opportunity to benefit from synergies and strengthen our presence globally, which benefits both our customers and shareholders,” he added.
“We are confident that this transaction will provide us with the tools and support we need to continue to be a leader in igaming technology through organic growth and acquisition of new businesses.”
