Hot on the heels of Evolution’s shock news to acquire developer Nolimit City comes word of another massive deal hot off the press. This one involves multinational company International Game Technology (IGT) completing an acquisition of iGaming content provider iSoftBet.
According to IGT, the €160 million deal more than doubles its PlayDigital content library to around 225 games while also providing a ready-made game aggregation platform. Compared to IGT, iSoftBet is the younger company, which launched in the 2010s and now has several offices spread across the globe in Malta, Romania, the UK, the Philippines, and Cyprus.
The iSoftBet deal is the first M&A to occur under Vince Sadusky, the new Group Chief Executive, who has been tasked with redeveloping the company’s digital profile. While announcing the deal in April, Sadusky had this to say:
“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. 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.”
At the time of writing, iSoftBet possesses a portfolio of over 150 proprietary titles designed to accommodate a wide range of preferences from classic to more cutting edge. The studio provides access to more than 8,000 third-party titles through its Game Aggregation Platform and gives online casinos the chance to integrate with over 80 online software providers such as Pragmatic Play, ELK Studios, Hacksaw Gaming, Nolimit City, Stakelogic as well as others. Popular games in the iSoftBet line-up include a number of licensed Megaways slots, Hold&Win games, Twisted Tales slots and many more.
This latest acquisition is one of many twists and turns IGT has taken since it was founded in 1990. What started as Lottomatica changed its name to Gtech after acquiring the US gambling company in 2006, before buying another American company called International Game Technology in 2015 and changing its name one more time. The company is headquartered in London with offices in Rhode Island, Las Vegas, and Rome.
The latest iSoftBet acquisition follows a deal IGT signed in February, agreeing to sell its Italian proximity payment business to PostePay – Patrimonio Destinato for €700 million. At the time, IGT stated it would use some of the proceeds from the deal to decrease debt.
