Online gaming technology supplier NYX Gaming Group has revealed plans to launch an initial public offering on Toronto’s TSX Venture Exchange.

The announcement follows NYX's recent acquisition of online poker network Ongame from Canada's Amaya Gaming Group, for a price equivalent to eight times Ongame's 2015 EBITDA, less any working capital requirement.

The acquisition also saw Amaya invest in NYX through a $10 million unsecured convertible debenture subscription, and includes an option for NYX to acquire Amaya’s B2B casino business, formerly known as Chartwell Technologies and CryptoLogic.

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