NYX snaps-up Betdigital in ?24.5m deal
Canadian supplier re-enters M&A fold with deal to acquire UK-based content provider
NYX Gaming Group is strengthening it omni-channel gaming offering by snapping up UK-based content supplier Betdigital in a deal which could rise to ?24.5m.
The total consideration is formed of an upfront cash payment plus a three-year earn out with the total aggregated cost capped at the headline sum equivalent to 2.51x EBITDA. NYX said the Betdigital assets amounted to less than 5% of NXY Gaming’s total assets at 31 March.
The acquisition of Betdigital will hand NYX content and technology expertise along with a game development platform and studio focused on the UK online and land-based gaming markets.
The deal comes hot on the heels of NYX’s ?270m acquisition of sportsbook and gaming supplier OpenBet, which completed last week.
“In Betdigital, we have identified an asset that will strengthen our reach and underpin the global content strategy of the company,” Matt Davey (pictured), NYX Gaming CEO, said.
“Particularly, Betdigital allows NYX to strengthen its position in the UK market, providing another unique flavour of regional expertise and omni-channel content that will benefit NYX and OpenBet customers and shareholders immediately and over the long term,” he added.
Betdigital CEO and general counsel Heath Samples said his firm had the tools and expertise to help NYX achieve its omni-channel ambitions.
“We are well-positioned to help NYX gain maximum returns from their plans for omni-channel expansion,” Samples said.
“Being a part of the NYX family will accelerate Betdigital’s growth story by leveraging the cross-sell opportunities available with the NYX customer base and by providing them with world-class content,” he added.
Founded in 2011 and based in Oxfordshire, Betdigital will also provide NYX with the ability to exploit opportunities for games development and leverage existing NYX studios for game design and art.