Following the completion of due diligence, Lucky Games has announced that the acquisition of ReelNRG is being completed as previously communicated.
The parties have agreed that the purchase price of SEK8.25m will consist of 2.5 million shares at a share price of SEK3.30. This should be seen in relation to the total number of shares outstanding of the company as of today amounting to 48.8 million, which represents a dilution of approximately five per cent.
ReelNRG will continue to operate independently, however. Lucky Games sees synergies in the form of cross-selling, cost optimisation and the possibility of sharing technology and licences in the future.
Mads Jorgensen, CEO of Lucky Games, said: "This is a big step for Lucky Games where we consolidate our position as a truly independent gaming studio focused on regulated markets.
"With another strategic acquisition, we are generating additional turnover through new revenue opportunities which will lead to the development of our profitability.
“The acquisition of ReelNRG secures key customer integrations and licences and adds new casino games to our already strong product portfolio, along with our new development team in India.”
