Two global games technology companies combine their businesses
The Background Almost two-thirds of the world’s population now has a mobile phone and there are approx. 3.77 billion global internet users by today. It is not surpiring that especially social media activities touches nearly all mobile app users. Games rank second behind social media activity in terms of time spent on devices. That equates to approx. 1.15 billion hours that consumers spend each month playing games (source: verto analytics).
The Deal Inspired Entertainment, Inc. (known prior to completion as Hydra Industries Acquisition Corp.) has announced the Company’s business combination with Inspired Gaming Group in December 2016. The transaction needed the approval by the boards of directors which was granted by 89% of the Hydra’s stockholders.
The Partners Both parties are specialist within the global gaming sector. They combine their strengths in order to supply virtual sports, mobile gaming and server-based gaming systems with associated terminals and digital content to regulated betting, gaming and lottery operators around the world.
The Prospects Luke Alvarez, President and CEO at Inspired Gaming Group underlines the importance of this transaction by stating: “I look forward to working with Lorne [Chairman of the Board at Inspired Entertainment], his team and our public shareholders to bring our products to new markets and to take Inspired to the next level.” He further emphasized that together with Inspired Entertainment, Inspired Gaming Group will drive value through organic and strategic growth.