In September, EveryMatrix announced it was attempting to acquire Fantasma Games AB for €18.5 million ($20.1 million). On October 11, news broke that shareholders had officially approved the offer, one that would see EveryMatrix pay €5.21 ($5.66) per share.
Additionally, EveryMatrix has announced it has received GLI certifications for core products. These certifications will help the company to streamline its processes for regulated markets following GLI guidelines.
Key Highlights
- Fantasma shareholders agree to buyout by EveryMatrix.
- EveryMatrix will pay €5.21 per share for the company.
- EveryMatrix received GLI certifications on core products.
Fantasma Shareholders Approve EveryMatrix Acquisition Deal
EveryMatrix issued a press release on October 11 announcing that Fantasma Games shareholders have approved the public offer that will see EveryMatrix purchase all shares of the company for €18.5 million.
The offer was set to expire on October 10, and at least 90% of shareholders had to approve.
According to the press release, 95.2% of shareholders agreed to the transaction. This will allow EveryMatrix to proceed with acquiring the company, for which it will pay €5.21 per share.
Both companies are listed on Nasdaq First North Growth Market Sweden.
We’re delighted to announce that this acquisition will proceed. It is another M&A deal fully funded from our own cash flow and made possible due to our rapid organic growth. We see big synergies and opportunities!
– Ebbe Groes, EveryMatrix Co-Founder and Group CEO
EveryMatrix will add Fantasma Games’ catalog of titles to its SlotMatrix aggregator. SlotMatrix currently offers over 29,000 online casino games from over 350 third-party providers and in-house games developed through Armadillo Studios.
EveryMatrix Co-Founder and Group CEO Ebbe Groes spoke on the deal, stating, “We’re delighted to announce that this acquisition will proceed. It is another M&A deal fully funded from our own cash flow and made possible due to our rapid organic growth. We see big synergies and opportunities!”
Fantasma Games Founder and CEO Fredrik Johansson also commented, stating, “I’m incredibly proud of the fantastic journey we have undertaken so far with Fantasma Games. Now, as we approach the next major phase in our growth, I’m confident that EveryMatrix is the perfect partner to help us realise our long-term vision.
“Through this partnership, we see tremendous potential, not only to enhance the quality of our existing games, but also to develop new and groundbreaking game concepts that can set future standards. We look forward to building a long-term and successful collaboration where we can jointly continue to drive development forward and create added value for both players and our partners.”
EveryMatrix Core Products Receive GLI Certifications
The Fantasma acquisition came just a day after EveryMatrix received a pair of Game Laboratories International (GLI) certifications on a pair of core products.
Both GamMatrix and CasinoEngine are now fully certified to a GLI-19 standard. This certification focuses on interactive gaming systems.
Additionally, the OddsMatrix platform is now certified to the GLI-33 standard. This standard focuses on event wagering systems.
These certifications are important as they show that EveryMatrix can meet regulatory compliance in all markets that use the GLI-19 or the GLI-33 standards.
Additionally, when EveryMatrix wants to enter a new market or introduce new technologies in existing markets, the process will be faster as GLI will only require a limited number of tests.
EveryMatrix Head of Compliance Jake Cachia spoke on the announcement, stating, “Customers across the world today look to work with providers that have software certified according to these two standards, which represent the highest mark of quality and compliance in our industry.
“We are already seen as one of the most trusted partners in the market, however both GLI-19 and GLI-33 will help us build on this even more within regulated jurisdictions and we’re grateful to GLI for conducting such a thorough and efficient process.”
GLI Europe VP of Marketing Chris Davies also spoke on the announcement, stating, “It has been a privilege for GLI to support the EveryMatrix Team in going live in North America and LatAm markets based on GLI standards. It has, and it continues to be, a true collaboration, engaging with such an innovative team. We are excited to see the significant progress they make and wish them and everyone a successful G2E.”
Sources
https://everymatrix.com/everymatrix-set-to-complete-fantasma-games-acquisition-after-meeting-shareholder-threshold/
https://everymatrix.com/everymatrix-submits-formal-bid-to-acquire-fantasma-games/
https://everymatrix.com/everymatrix-set-to-complete-fantasma-games-acquisition-after-meeting-shareholder-threshold/
