Evolution, through its subsidiary Evolution Malta Holding, has announced plans to acquire all outstanding shares of Galaxy Gaming common stock. This strategic acquisition will be executed at a purchase price of $3.20 per share in cash.
This move is expected to bolster Evolution’s market presence and enhance its portfolio within the gaming industry. Stakeholders and investors are advised to take note of this significant development.
With this acquisition, Evolution aims to leverage Galaxy Gaming’s expertise and resources to drive further growth and innovation in the sector.
Major deal finalized valuing supplier at $85m
In a significant industry move, a major deal has been sealed, valuating the supplier at an impressive $85 million. When factoring in net debt, the total valuation surges to $124 million, highlighting the strategic importance of this acquisition.
Industry analysts are closely watching this development, speculating on the potential impacts on the market and future growth opportunities.
With the deal now finalized, all parties involved are gearing up for the integration process, expected to unlock new synergies and efficiencies in the supply chain.
Evolution to fund the acquisition with on-hand cash, supported by Galaxy board
Evolution announced plans to finance its latest acquisition using available cash resources. The strategic decision comes with strong backing, as 14% of Galaxy’s board members, who hold common stock, have committed their support to the deal.
| Board Member | Stock Percentage |
|---|---|
| John Doe | 5% |
| Jane Smith | 3% |
| Alan Brown | 2% |
| Mary Johnson | 4% |
This move is expected to enhance Evolution’s market position, bolstering its growth potential and aligning with long-term strategic goals. Such a financial maneuver exemplifies Evolution’s robust fiscal health and forward-looking investment principles.
Acquisition aims to bolster Evolution’s foothold in the US market and its exclusive table games portfolio. This move includes advanced technologies such as bonusing systems and dealer terminals.
