EveryMatrix is set to complete the acquisition of Fantasma Games after securing approval from more than 95 per cent of Fantasma Games shareholders.
In September, EveryMatrix announced a public offer to acquire all shares in Fantasma Games for SEK59 per share for a total cash consideration of SEK209.8 million.
The offer was conditional on at least 90 per cent approval from Fantasma Games shareholders, with that threshold having now been met with 95.2 per cent of shareholders approving the deal.
Following the shareholder approval, EveryMatrix intends to call for compulsory redemption of the remaining shares in Fantasma Games that were not submitted in the offer.
“We’re delighted to announce that this acquisition will proceed,” said EveryMatrix group CEO and co-founder Ebbe Groes. “It is another M&A deal fully funded from our own cash flow and made possible due to our rapid organic growth. We see big synergies and opportunities.
“Fantasma’s games are recognised by the world’s largest operators and their players as among the very best both from a performance and an experience perspective. Its games production output is seriously impressive, as is its management and staff, who have created a business that consistently generates remarkable financial results.
“I’d like to thank the EveryMatrix team that have worked so hard to make this possible as well as Fredrik and his team with whom we believe we can do even greater things as a combined force,” he added.
Fredrik Johansson, CEO and founder of Fantasma Games, commented: “I’m incredibly proud of the fantastic journey we have undertaken so far with Fantasma Games. Now, as we approach the next major phase in our growth, I’m confident that EveryMatrix is the perfect partner to help us realise our long-term vision.
“We not only share a common passion for innovation but also a deep understanding of what it takes to create gaming experiences that truly engage and entertain players in a unique way. EveryMatrix has a strong technical platform and extensive experience in fostering successful collaborations within the gaming industry, which makes us feel confident that together, we can take our game development to new heights.
Johansson added: “Through this partnership, we see tremendous potential not only to enhance the quality of our existing games but also to develop new and groundbreaking game concepts that can set future standards.
“We look forward to building a long-term and successful collaboration where we can jointly continue to drive development forward and create added value for both players and our partners.”
At the request of EveryMatrix, Fantasma’s board has applied for the delisting of the company’s shares from Nasdaq First North Growth Market.
Shares in Fantasma Games AB (STO:FAGA) remained unchanged at SEK58.00 per share in Stockholm earlier Monday.