Imperus completes $24m Akamon takeover

Acquisition of social casino developer finally closes after suffering minor setback last month 

Imperus Technologies has completed its acquisition of social casino developer Akamon Entertainment after the $24m deal suffered a recent setback last month. [private]

The purchase was finalized on November 16 with Imperus paying $20.7m cash as well as issuing Akamon CEO Vicenç Martí with 4,538,297 common shares at a price of CAD$0.167 per share.

The takeover suffered delay when Imperus pushed back the date by which it had to finalize the acquisition, leading to a 30% slump in its share price.

And while the closing date for the deal was extended to November 16, Imperus’ $700,000 advance deposit was added to the purchase price, which in turn was increased by $305,000.

Akamon is the second major acquisition Imperus has made in the social casino space this year after buying Israel-based social games developer Diwip for $50m in February.

Imperus CEO James Lanthier said he was “thrilled” to close the acquisition and that Akamon and Diwip “complement one another strategically.”

“We are eager to begin the process of optimizing our combined business as we continue to grow and scale Imperus,” he added.

Akamon was founded in 2011 and is one of the largest social casino operators in Latin America and Southern Europe with its portfolio of free-to-play games attracting more than 450,000 daily users.

Akamon CEO Vicenç Martí said adding its leadership in Southern Europe and Latin America to Imperus’ North American customer base “was a step in the right direction” to creating a global power player.