NeoGames will start an offer to acquire Aspire Global for $480 million

 The provider NeoGames announced that it has started a public offer to the shareholders of Aspire Global, provider of B2B iGaming technology solutions to online sports betting and casino operators, to acquire 100% of the outstanding shares for approximately $480 million.
 According to a press release, NeoGames is offering to acquire all of them through a cash combination for 50% of Aspire Global's shares at a price of SEK 111 per share, and equity consideration for the remaining 50% of Aspire Global's shares consisting of 7.6 million newly-issued shares in NeoGames.

We should mention that the exchange ratio was determined based on a $38.01 per share price for NeoGames and a SEK 111.00 per share price for Aspire Global.

As reported by NeoGames, Aspire Global shareholders who in aggregate own 67.0% of the outstanding shares have elected to accept the Offer and will elect to receive up to 100% of the 7.6 million NeoGames shares offered.

A committee of independent Aspire Global directors has unanimously recommended to Aspire shareholders to accept the offer and to elect to receive full cash consideration.

In this regard, Moti Malul, executive director of NeoGames, highlights that the main objective is "to create a leading global provider in interactive content, proprietary technology and operations across all elements of iLottery, online sports betting and iGaming verticals".

Likewise, he explained that “as more and more lotteries globally converge into additional gaming verticals such as online sports betting and iGaming operations, the ability to provide a wide range of products, combined with experience in their operations, is becoming increasingly important”.

On the other hand, Tsachi Maimon, executive director of Aspire Global, also referred to the objectives of the acquisition and says that they seek to "generate significant long-term value for both sets of shareholders, by synergistically capitalizing on the key strengths of our two platforms and positioning them both for expansion in new and existing markets”.

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