The board of Aspire Global has approved a takeover bid from NeoGames. Valued at 111.00 Swedish Krona (roughly $12.29) for each share, the transaction has received a recommendation for approval from stakeholders.

NeoGames initially approached Aspire Global in January of 2022 with a proposal involving cash and stock to purchase all remaining shares. Given that key stakeholders already hold a substantial 66.96% ownership in Aspire Global, the agreement appears to be a near certainty. These stakeholders have consented to transfer their shares to NeoGames at a price of 111.00 Krona per share, representing a considerable 41% increase over the stock’s recent trading value of 78.5 Krona.

This acquisition places a valuation on Aspire Global, a prominent entity within the regulated gaming sector, in the range of $500 to $600 million.

Aspire Global’s CEO, Tsachi Maimon, conveyed enthusiasm regarding the merger, emphasizing that the unified strengths of Aspire Global and NeoGames will establish a leading force within the global iGaming and iLottery sectors. He cited Aspire Global’s recent strategic actions, including the purchases of Btobet and Pariplay, investments in bingo, and the sale of its B2C segment, as preparations for this upcoming phase of expansion.

I have complete confidence that these two organizations are a perfect pairing. The robust cultural connections they’ve established over time, collaborating closely, will undoubtedly result in remarkable revenue expansion.”

Should the acquisition proceed, NeoGames will obtain access to Aspire Global’s distinctive offerings, while Aspire Global will utilize NeoGames’ current reach to expedite its own objectives of penetrating the US market.

Aspire Global will maintain its independent operations as the iGaming branch of the expanded group, and it’s anticipated that the entire workforce from both entities will retain their positions. Furthermore, Tsachi Maimon will remain as CEO of Aspire Global and will also assume the role of President for the NeoGames group.

Moti Malul, CEO of NeoGames, remarked: “This represents a highly strategic and transformative agreement for NeoGames, potentially among the most significant turning points in our company’s journey thus far.”

“We firmly believe that the merger of these two highly successful enterprises will establish a dominant online lottery, sports wagering, and gaming supplier with a substantial presence across numerous key international markets.”