NetEnt acquires casino software developer Red Tiger
Today, it was officially announced that NetEnt has entered into an agreement to acquire Red Tiger. In exchange for 100% of the shares, NetEnt will pay a sum of over £200 million. Established back in 2014, Red Tiger has grown to become one of the leading slot providers with the help of hugely successful titles such as Laser Fruit, Ninja Ways, Pirates’ Plenty, and Dragon’s Fire to name a few.
“I am very pleased to welcome Red Tiger into the NetEnt Group. The acquisition combines two of the leading and most innovative companies in the online gaming industry. We look forward to working with Red Tiger’s fantastic team to enhance our combined global reach and to offer further value to operators and players. The transaction will provide significant revenue synergies across our markets worldwide” says Therese Hillman, Group CEO of NetEnt.
Gavin Hamilton, CEO of Red Tiger, comments:
“This is an exciting new stage of the Red Tiger story and we are delighted to become part of the NetEnt group. Accessing NetEnt’s unparalleled distribution network and geographic footprint will unlock new opportunities for Red Tiger and will further accelerate our growth. At Red Tiger we’ll remain focused as always on driving further innovation and we are looking forward to working with NetEnt on how to leverage our combined capabilities to create new products that wow our customers.
As a direct result of the merging, Red Tiger’s Megaways license will also allow NetEnt to make use of the popular game engine and distribute Megaways titles under the NetEnt brand.