Gaming and lotteries technology provider GTECH has completed its £18m (€21m) acquisition of London-listed mobile gaming operator and supplier Probability.
The acquisition was first announced in February this year when GTECH made an £18m offer for the business, subject to regulatory and shareholder approval.
Completion of the acquisition sees Probability and its wholly-owned businesses Probability Games Corporation, Probability (Gibraltar) and Playoo SA, act as subsidiaries of GTECH, with all existing employees being retained.
However, non-executive directors Mike Shinya, Matthew Wreford, Mark Davies and Rocco Pellegrinelli will resign from Probability's board under the terms of the acquisition.
GTECH’s president of products and services Renato Ascoli commented that with mobile gaming continuing to grow, the company saw the acquisition as “a logical stepping stone” to advance its mobile strategy for global markets.
“Probability’s unique content service offerings and its exclusive game development and management platform will further advance our mobile strategy,” Ascoli added.
“This acquisition will facilitate the immediate pooling of knowledge and expertise currently within GTECH and Probability, allowing us to accelerate deployment of existing game technology into the mobile market as well as pursue cross-selling opportunities,” Probability chief executive Charles Cohen added.
“The combination of GTECH’s global presence coupled with the market efficacy of our integrated solutions will position us to take advantage of Gaming 2.0 – the next critical phase of the gaming market characterized by the dominance of mobile.”
Probability offers a range of solutions, including B2B partner-managed products, white label solution and B2C brands including Ladylucks.