Novomatic has signed a historic agreement that will see the gaming giant acquire a 100% stake from Ainsworth through a Scheme of Arrangement.
At the moment of writing, Novomatic owns 52.9% of Ainsworth, with this agreement poised to see the company completely take over the rest of Ainsworth’s outstanding shares. Novomatic purchased a majority stake in Ainsworth by acquiring it from Founder Len Ainsworth back in 2016, an agreement that was approved in 2017.
In order to complete the acquisition, the deal must first be approved by the shareholders of Ainsworth via standard closing conditions, with the agreement expected to be finalized by the end of Q2.
For perspective, Novomatic will acquire the remainder of Ainsworth’s stock at a price of $1.00 per share.
Stefan Krenn, Member of the Executive Board at Novomatic, commented on this historic acquisition and said that this development is in perfect alignment with the company’s broader growth strategy that is set to see Novomatic expand in the United States and the Asia-Pacific region.
The acquisition of Ainsworth is consistent with our international growth strategy and the expansion of our presence across the Asia-Pacific and the US region. As a long-term shareholder, we are familiar with the business and believe that integrating Ainsworth into our operations is in the best interest of this strategy. We look forward to welcoming the highly qualified and experienced Ainsworth employees into the Novomatic family to become part of our international growth and success.
Novomatic finalized the initial acquisition towards the end of 2017, with the former company Chief Executive Officer, Harald Neumann, assuming the role at the helm of Novomatic in 2021.
In related Novomatic news, the company has recently received a decade-long vendor license extension from the Kansspelautoriteit (KSA), the Dutch gaming regulator, allowing the company to continue supplying casino machines to land-based operators throughout the Netherlands.
Prior to this, Novomatic also became one of the three official gaming companies to secure a license from the newly opened market in the United Arab Emirates, joining an elite company that rounds up wth Aristocrat and Wynn.
