Last month, EveryMatrix tabled a public offer worth a total cash consideration SEK209.8m (£15.5m/€18.5m/$20.2m). This will see it pay SEK59 cash per Fantasma share.
Some 95.2% of all Fantasma shareholders accepted the offer, the acceptance period for which ended Thursday (10 October). The deal needed the support of at least half of Fantasma shareholders to proceed.
Shares in Fantasma are listed on Nasdaq First North Growth Market Sweden.
EveryMatrix said the acquisition will strengthen its games output. This includes the addition of slots titles integrated with over 250 operators around the world. Paddy Power, Betsson, LeoVegas, DraftKings and BetMGM are among the operators that currently work with Fantasma.
EveryMatrix also said Fantasma’s market distribution will increase its presence in growing markets such as North America.
EveryMatrix talks up synergies and opportunities
Ebbe Groes, co-founder and group CEO of EveryMatrix, welcomed the news of shareholder approval. He said the acquisition will benefit both businesses.
“It is another M&A deal fully funded from our own cash flow and made possible due to our rapid organic growth,” Groes said. “We see big synergies and opportunities.
“Fantasma’s games are recognised by the world’s largest operators and their players as among the very best both from a performance and an experience perspective. Its games production output is seriously impressive, as is their management and staff who have created a business that consistently generates remarkable financial results.”
Fantasma founder and CEO Fredrik Johansson echoed these comments. He said EveryMatrix is the “perfect partner” to support its long-term vision.
“We not only share a common passion for innovation, but also a deep understanding of what it takes to create gaming experiences that truly engage and entertain players in a unique way,” he said.
“EveryMatrix has a strong technical platform and extensive experience in fostering successful collaborations within the gaming industry. This makes us feel confident that together we can take our game development to new heights.”
Another branch to the ever-expanding EveryMatrix portfolio
Fantasma will be the latest business to join the wider EveryMatrix family.
In July, EveryMatrix completed its acquisition of betting and igaming platform provider FSB Technology. The group said the all-cash deal gives its OddsMatrix sportsbook division a foothold in the African, Irish and UK markets.
On top of this, EveryMatrix in July also revealed record quarterly revenue of €42.4m in Q2. This followed year-on-year growth across all products. EBITDA also hit an all-time high of €25.1m, up 67.3% on the previous year.
Original article: https://igamingbusiness.com/strategy/ma/fantasma-shareholders-vote-everymatrix-acquisition/
