International Game Technology said it has agreed to buy iSoftBet for EUR160 million ($174.3 million) in cash to expand its digital offering.
The company said the acquisition will more than double IGT PlayDigital’s content library to about 225 games.
“The acquisition of iSoftBet will provide market-tested proprietary digital content, advanced game aggregation capabilities, scalable promotional tools, analytics, and strong creative talent to IGT’s PlayDigital operations,” said Vince Sadusky, IGT CEO. “This will enhance PlayDigital’s competitive capabilities with a proven, complementary content portfolio across Europe and North America as we provide best-in-class games and technology to our fast-growing igaming customers.”
The acquisition is expected to close in the second quarter of this year.
Analysts at Deutsche Bank said the deal will enhance IGT’s ability to service the iCasino segment, “while also expanding the network, with what we believe will be a stronger suite of customer experience-oriented titles, something we believe IGT has been into to date.”
Last September, IGT said it was establishing a new digital division to capture online opportunities.