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Aristocrat to buy Plarium
Posted on Friday, 11 August 2017 08:54
Aristocrat Leisure has agreed to purchase Israeli online games platform operator Plarium Global from founders Avraham Shalel and Gabi Shalel for USD 500.00 million in cash, including an additional earn-out financing if certain performance-based targets are achieved.
The buyer will fund the transaction via existing cash and an incremental USD 425.00 million debt facility.
Commenting on the deal, chief executive of the buyer, Trevor Croker, said: “The acquisition of Plarium allows Aristocrat to expand our addressable market into logical adjacent segments in the fast growing mobile gaming market.”
Covington & Burling, Citigroup, Allens and Herzog Fox & Neeman have all been hired to advise the purchaser on the deal, while Deutsche Bank and Goldfarb, Levy, Eran, Meiri, Tzafrir and Company are assisting the target.
The deal is expected to close by December 2017, subject to the go ahead from certain regulatory bodies.
No further details of the acquisition were disclosed.
Herzliya-based Plarium is a free-to-play mobile, social and web-based game developer, with multiple offices throughout Israel and the US, as well as Europe.
New South Wales-based Aristocrat is billed as a leading global provider of gaming operations, with a wide range of products, including electronic gaming machines and casino management systems.
The company, which was formerly known as Aristocrat Leisure Holdings, is listed on the Australian Securities Exchange under the ticker symbol ALL.
In the 12 months ended 30th September 2016, Aristocrat posted revenue of AUD 2.13 billion, a 34.8 per cent increase on AUD 1.58 billion in the previous year.
Earnings before interest, tax, depreciation and amortisation totalled AUD 806.00 million for the period (FY 2015: AUD 523.10 million).
Aristocrat bought Tennessee-based casino slot machines manufacturer Video Gaming Technologies for roughly USD 1.28 billion in 2014.
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