GTECH and IGT merger gets High Court go ahead
High Court of England and Wales gives $6.4bn deal the green light, merger will become effective on 7 April
GTECH has cleared the final hurdle in its $6.4bn acquisition of International Game Technology (IGT) after the High Court of England and Wales gave the takeover the green light.
The merger will become effective on 7 April 2015, and will see GTECH rebrand as IGT while holding company Georgia Worldwide will change its name to International Game Technology.
The new logo will display the GTECH globe alongside the IGT name while the supplier’s corporate HQ will be based in the UK, with operational centres in Rome, Las Vegas and Providence, Rhode Island.
The business will be listed on the New York Stock Exchange under the symbol IGT.
In February the acquisition, which was announced back in July last year, was unanimously approved by IGT shareholders at a special meeting in Las Vegas.
Last week GTECH revealed that full year 2014 revenues from its interactive business remained flat year-on-year at $110m although it posted a 300% increase in sales of its online products.