Inspired Secures Regulatory Approval for Acquisition of NTG
Sep 20, 2019, 07:44 ET
NEW YORK, Sept. 20, 2019 /PRNewswire/ -- Inspired Entertainment, Inc. ("Inspired") (NASDAQ: INSE) today announced that the Competition and Markets Authority ("CMA") in the UK has cleared the Company's pending acquisition of the Gaming Technology Group ("NTG") of Novomatic UK Ltd. ("Novomatic UK"), a division of NOVOMATIC GROUP, a leading international supplier of gaming equipment and solutions. The Company previously announced a definitive agreement to acquire NTG on June 11, 2019. The CMA's approval was a requirement to complete the acquisition. Following this approval, the Company expects to complete the NTG acquisition on or about October 1, 2019, subject to the satisfaction of the remaining customary closing conditions.
"We are pleased to have received approval from the CMA and are grateful for their diligence and efficiency in reviewing the transaction," said Lorne Weil, Executive Chairman of Inspired. "The anticipated successful completion of this acquisition is expected to be an exciting step forward in the evolution of Inspired into a global gaming company with a comprehensive portfolio of products and services and world-class functional expertise in the gaming industry."
About Inspired Entertainment, Inc.
Inspired is a global games technology company, supplying Virtual Sports, Mobile Gaming and Server Based Gaming systems with associated terminals and digital content to regulated lottery, betting and gaming operators around the world. Inspired currently operates over 35,000 digital gaming terminals and supplies its Virtual Sports products through more than 40,000 retail channels and over 100 websites, in approximately 35 gaming jurisdictions worldwide. Inspired employs 600 employees in the UK and elsewhere, developing and operating digital games and networks. Additional information can be found at www.inseinc.com.
Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that indicate future events or trends or are not statements of historical matters. These statements are based on our management's current expectations and beliefs, as well as a number of assumptions concerning future events.
Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of our control and all of which could cause actual results to differ materially from the results discussed in the forward-looking statements. There can be no assurance that any matters covered by our forward-looking statements will develop as predicted, expected or implied, including whether the NTG acquisition will be complete, the debt refinancing will occur, and whether the business of NTG will be successfully integrated with our existing business. Readers should not place undue reliance on forward-looking statements. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in our reports filed with the Securities and Exchange Commission, including our annual report on Form 10-K, our quarterly reports on Form 10-Q and our current reports on Form 8-K, which are available, free of charge, on the SEC's website at www.sec.gov and on our site at www.inseinc.com.
Contact:
Aimee Remey
[email protected]
+1 646 565-6938
SOURCE Inspired Entertainment, Inc.
