Financial terms of the agreement were not disclosed, but it was confirmed that Everi would purchase game development technology and intellectual property from Atlas.
Everi, which said it expects the deal to close within the next 60 days, said the assets would complement its existing game development studios and portfolio of games, as well as provide a pathway for future expansion into new markets around the world.
In conjunction with the acquisition of the assets, Atlas development and engineering team members will join Everi.
Everi added that it intends to fund the acquisition from existing cash on hand.
“We look forward to Atlas’ game developers and engineers bringing a global perspective that will help us execute a more robust product roadmap and support our growth strategy of delivering best-in-class content,” Everi’s executive vice president and games business leader Dean Ehrlich said.
“This transaction strengthens Everi’s development capabilities and will further bolster the future expansion and differentiation of our gaming products.
“We expect to leverage the Atlas development team and purchased assets to provide more original content for our current customer base while creating an opportunity to further penetrate the markets Atlas has historically served, including Australia.”
The deal comes after Everi in December announced plans to restructure its leadership team, moving Michael Rumbolz from the role of chief executive to executive chairman, while chief operating officer Randy Taylor will take over as CEO.
Each of the new appointments are due to come into effect from 1 April this year.
In October last year, Everi also acquired certain strategic assets of Meter Image Capturing, a provider of progressive meter reporting solutions to the gambling sector.
Original article: https://igamingbusiness.com/everi-to-acquire-assets-from-australias-atlas-gaming-technologies/
