NYX lands $385m OpenBet acquisition
Canadian supplier says addition of sportsbook platform âcomplete portfolioâ of products
NYX Gaming has pulled off a stunning US$385m acquisition of leading sportsbook supplier OpenBet in a deal which also sees UK operators William Hill and Sky Betting & Gaming (SB&G) take a stake in the Canadian company. [private]
NYX, which will take full control of the business from selling party Vitruvian Partners, has agreed to pay the full consideration in cash, with $136m of that sum paying down a $136m OpenBet debt.
To partially fund the transaction, OpenBet customers William Hill and SB&G have made a combined investment of $143m into NYX, while William Hill will also work alongside OpenBet in respect to a three-year development program which NYX said would help modernize the OpenBet technology.
Toronto-listed NYX, which currently provides casino and poker products, said the acquisition of OpenBet wold complete its vertical portfolio with integration of the two business estimated to provide annual cost and revenue synergies of approximately $4m and $7m respectively.
âThe acquisition of OpenBet by NYX completes the portfolio of industry leading products and services we offer to our customers,â Matt Davey, CEO of NYX, said.
More to follow…