The leadership team at Aspire Global is recommending that its investors embrace a takeover bid from NeoGames. The transaction assesses Aspire Global’s worth at SEK 111.00 for each share, equating to roughly $12.29 in US currency.
NeoGames first declared its aim to purchase Aspire Global on January 17, 2022. The proposal presented comprises a blend of cash and freshly minted NeoGames stock, which would grant NeoGames possession of all circulating Aspire Global shares.
A communication from Aspire Global disclosed that its primary stakeholders have already formalized arrangements to transfer their shares to NeoGames at the proposed valuation. This group collectively holds 66.96% of Aspire Global’s shares and corresponding voting power. This essentially ensures the successful completion of the acquisition.
Aspire Global’s Chief Executive, Tsachi Maimon, praised the agreement, emphasizing Aspire Global’s latest endeavors to establish itself as a premier business-to-business supplier within the iGaming sector. He pointed to the acquisitions of Btobet and Pariplay, in conjunction with the recent investment in bingo and the shedding of Aspire Global’s business-to-consumer division. Maimon contends that the union with NeoGames signifies a logical progression that will forge a global powerhouse encompassing both the iGaming and iLottery domains.
“This business consolidation is a divinely ordained union! Our robust partnership, cultivated through years of joint effort, will unquestionably unleash remarkable income for both NeoGames and Aspire Global.”
Should this agreement proceed, NeoGames will acquire Aspire Global’s distinctive offerings. Concurrently, Aspire Global will leverage NeoGames’ established infrastructure to accelerate its penetration into the American marketplace.
Rest assured, Aspire Global will remain! They’ll maintain autonomous operations as a specialized iGaming center within the expanded corporation. Moreover, a positive aspect is that all personnel from both entities are anticipated to retain their positions. Furthermore, Mr. Maimon will continue as the leader of Aspire Global and ascend to the role of President of the entire NeoGames organization.
Moti Malul, the incumbent CEO of NeoGames, is ecstatic about this development. He remarked, “This is a transformative event for NeoGames, a strategic maneuver of immense scale! It has the potential to be among the most momentous turning points in our company’s trajectory.”
He elaborated, “We are certain that by combining our strengths, our two exceptionally prosperous companies will establish a global force. We’ll become a comprehensive provider for all aspects of online gaming – lottery, sports wagering, and more! Additionally, we’ll possess a robust footprint in vital markets worldwide.”