Amaya in discussions over Crypto acquisition
Canadian solutions provider agrees terms "in principle" for all-cash offer.
Canadian solutions provider Amaya Gaming has agreed terms in principle for an all-cash offer for Toronto-listed software developer Cryptologic.
The US$2.50 a share offer would see the Chartwell owner obtain 52% of the company, which it values at $34.5m.
Amaya already owns a 5% stake in Cryptologic, and has been given a deadline of 12 January to either announce a firm intention to make an offer or announce that it does not intend to make an offer for the developer.
When the Chartwell acquisition was completed in May, CEO David Baazov said the deal represented “a significant step for Amaya in our strategy to accelerate growth in the regulated interactive gaming industry.”
Earlier this week the solutions provider agreed a supply deal with Loto-Québec, marking its first partnership in the North American market. It also launched the first and only regulated egaming site in Kenya in October.