Amaya granted extension to complete Cryptologic acquisition
Amaya granted extra time to conduct due diligence process ahead of possible offer for software developer
Amaya has been given until Thursday 2 February to complete its due diligence procedures and finalise financing arrangements for its acquisition of Cryptologic.
The original deadline for Amaya to make an offer for the Canadian software developer had been set for 12 January. However, Amaya requested an extension, which was yesterday approved by Cryptologic’s board.
Amaya, which completed the acquisition of Chartwell for £14.5m in May last year, announced they had agreed a deal “in principle” to purchase a controlling stake in Cryptologic in December. Should the deal go ahead, Amaya, who already hold a 5% stake in the business, will acquire 52% of Cryptologic for $34m.