Canadian gaming supplier NYX Gaming Group has strengthened its presence in the US iGaming market by acquiring Sportech’s 50 per cent stake in the SNG Interactive joint venture established between the companies in December 2013.

The Toronto-listed supplier will pay a total consideration of CAD$25.1m to take over Sportech’s stake, comprising $10m in cash, 2.2m ordinary shares in NYX equating to an aggregate value of $9.9m (based on the closing price of $4.51 on May 27th), and up to a maximum of $3m in deferred consideration.

“The acquisition signifies NYX's commitment to further expand its brand presence and customer relationships within North America,” the supplier said.

Premium subscribers continue here to the full article.

Related