Vincent Group p.l.c and GAN Limited entered into a definitive agreement under which GAN Limited will acquire Vincent Group p.l.c for EUR 149.1 million on a cash-free, debt-free basis, through a combination of cash and stock.
The transaction is expected to close in the first quarter of 2021 subject to customary closing conditions, including regulatory approvals.
From Hedman Partners the transaction was assisted by senior associate Kati Pino and managing partner Merlin Seeman working together with Morgan, Lewis & Bockius LLP, and advisors from other relevant jurisdictions.
Vincent Group p.l.c. is a Malta public limited company that operates an online gaming platform under the flagship brand, Coolbet. Coolbet’s proprietary platform was uniquely developed in-house and offers online real-money gaming in sports, casino, poker, and virtual e-sports.
Coolbet was awarded start-up of the year in 2017 by International Gaming Awards, World’s Best Bookmaker in 2018 and 2019 by TIPS magazine, and mobile sports product of the year in 2019 and 2020 by the International Gaming Awards.
GAN, listed in NASDAQ, is a leading business-to-business supplier of internet gambling software-as-a-service solutions predominantly to the U.S. land-based casino industry.
GAN has developed a proprietary internet gambling enterprise software system, GameSTACK™, which it licenses to land-based casino operators as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming, and virtual Simulated Gaming.
For more information please refer to https://www.nasdaq.com/press-release/gan-limited-announced-agreement-to-acquire-coolbet-2020-11-16