IGT completes iSoftBet acquisition, doubles game portfolio to 225 proprietary titles

International Game Technology (IGT) announced Tuesday it has completed its acquisition of iGaming content provider and third-party game aggregator iSoftBet, for approximately €160 million ($164 million) in cash. 

The acquisition more than doubles the IGT PlayDigital content library to approximately 225 proprietary games, and "provides a world-class, proprietary game aggregation platform to distribute third-party games, and leading data-driven promotional and user-engagement tools," the company stated in an official press release.

Back when the acquisition plans were announced in April this year, Vince Sadusky, IGT CEO, spoke about the merger and said: "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," he added at the time.

Oakvale Capital LLP acted as lead financial advisor to IGT. Wachtell, Lipton, Rosen & Katz served as legal advisor to IGT and KPMG LLP acted as tax and financial due diligence advisor to IGT. M. Firon & Co. and Wiggin LLP served as legal advisor to iSoftBet. BDO Israel acted as independent registered public accounting and tax firm of iSoftBet.