NetPlay TV eyeing H2 acquisition
New chief executive Bjarke Larsen says the operator has "its feelers out" and is open to M&A activity in second half of 2015
New NetPlay TV chief executive Bjarke Larsen says the operator has “its feelers out” with regard to a potential acquisition and is aiming to complete a deal sometime in H2 this year.
The operator is keeping its options open in terms of potential targets, with Larsen adding that it could look to make a “transformational” deal which “might change the strategic position of the business” as well as additions to its existing casino operation.
“We’ve got a strong casino vertical and that’s down to our commercial relationships but other product verticals – like the acquisition of Vernons at the end of 2013 – we certainly would be open to any opportunities that would hold and give our shareholders additional value,” he said.
NetPlay first hinted at a move into the M&A market early last year under previous chief executive Charles Butler, but Larsen told eGaming Review the company first “put itself out there” in Q4 2014 and Larsen said he expects opportunities to present themselves over the next six months.
“The post-PoC world is a place where there are potential opportunities for someone like NetPlay with a strong balance sheet to take advantage,” Larsen said.
Earlier this month NetPlay confirmed it had terminated a number of marketing contracts as part of a strategic overhaul of the business in a bid to turn around a 19% year-on-year slide in Q4 revenues.
The operator will now concentrate on its commercial relationships with UK broadcasters Channel 5 and ITV.