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    You are at:Home»News»Vendor Works»NeoGames Completes Tender Offer of Aspire Global,
    Vendor Works

    NeoGames Completes Tender Offer of Aspire Global,

    June 16, 20223 Mins Read
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    NeoGames S.A (Nasdaq: NGMS) (“NeoGames” or the “Company”) announced that it has completed its previously announced tender offer to acquire Aspire Global plc (“Aspire Global”), a leading B2B iGaming technology solutions provider to online sports betting and casino operators. In total 99.31% of shares in Aspire Global have been tendered. The expected settlement date for shares tendered during the extension of the acceptance period is on or around June 30, 2022. The shares of Aspire Global that remain outstanding will be subject to a squeeze-out proceeding which is expected to be completed on or around August 11, 2022.

    “We are thrilled to complete this strategic transaction with the Aspire Global team, and to commence working on identifying potential opportunities to capitalize on the merger of our platforms,” said Moti Malul, Chief Executive Officer of NeoGames. “With this transaction, we are combining our two companies with a goal to create a leading global provider in interactive content, proprietary technology as well as gaming operations, tapping into a potential total addressable market of $74 billion, according to H2 Gambling Capital, which is estimated across all elements of iLottery, online sports betting and iGaming verticals for 2021. We believe this strategic combination will generate long-term shareholder value by synergistically capitalizing on the key strengths of our two companies and will help position NeoGames for expansion in new and existing markets. By integrating our market-leading platform and scalable position within the rapidly expanding global iLottery market, with Aspire Global’s proprietary sports betting platform, BtoBet; its iGaming content and aggregation platform, Pariplay; and its proprietary content and turn-key B2B Gaming solutions, NeoGames is well positioned to increase our addressable market opportunities, and further expand our services to our North American customers.”

    “We at Aspire Global are extremely excited to join the NeoGames team to execute on our mutual goals following the completion of this transaction. We view this transaction is the natural next step for our company, as we further enhance our scale and competitive position across all business lines,” said Tsachi Maimon, Chief Executive Officer of Aspire Global. “We believe both companies are well positioned to mutually grow our two platforms and execute on our strategic initiatives. Not only is this a strategic fit, it is also a strong cultural fit, as significant parts of both management teams worked together extensively during NeoGames’ inception.”


    Financing

    The offer was funded through a combination of newly issued NeoGames shares and cash. The Company will issue approximately 7.6 million shares (in the form of Swedish depository receipts) to shareholders of Aspire Global as payment of the equity component of the offer. The Company is paying cash of approximately $264 million, (equivalent to SEK 2.64 billion) related to the cash component of the offer. The Company obtained fully committed debt financing from funds and accounts managed, advised or sub-advised by Blackstone Alternative Credit Advisors LP and/or its affiliates, consisting of a €187.7 million (approximately $198 million) term loan, to partially fund the cash portion of the offer. The term loan, along with a €13.1 million (approximately $13.8 million) overfund facility, has a 6-year maturity.

    Management and the Board

    The combined company will be led by Moti Malul, who will continue as Chief Executive Officer, and Raviv Adler as Chief Financial Officer. Tsachi Maimon, the Chief Executive Officer of Aspire Global, has joined NeoGames as President and will lead the newly formed iGaming division. The current Board of Directors of NeoGames is remaining in place with no changes.

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