Netent acquired Red Tiger Gaming for €245 million
Netent has acquired 100% of the shares of Red Tiger Gaming for €245 million.
Among the biggest software developers in the online gambling industry, Netent finds itself near the top. It comes as no surprise then that Netent acquired Red Tiger Gaming for the first acquisition in the company's history. We'll take a look at the story next.
€220 million + €25 million in future considerations for Red Tiger
Netent really needs no introduction. The Swedish developer has created a name for itself with games such as Starburst, Butterfly Staxx and Gonzo's Quest. In addition to their own in-house themes, they also have developed branded slots such as Narcos, Vikings and Guns N' Roses amongst several others. They have now acquired Red Tiger Gaming by purchasing all the shares for €220 million with a further €25 million payable by 2022 if the target company meets certain performance targets. The combination is expected to create synergies in revenue.
The business combination is expected to create synergies worldwide.
Red Tiger Gaming
Red Tiger Gaming was created in 2014 by the same team that gave us Cayetano Gaming. The developer has quickly grown with popular titles including Treasure Mine and Thor's Lightning. The developer has roughly 170 employees spread between offices in Malta, Bulgaria and the Isle of Man.
After Netent Acquired Red Tiger Gaming, this news makes us wonder if this is the start of a trend and, if so, who will be the next buyer and seller.