iSoftBet is set to be acquired by IGT after the latter signed a deal in an aim to more than double its IGT PlayDigital portfolio.

iSoftBet is set to be acquired by International Game Technology after the latter signed a deal in an aim to more than double its IGT PlayDigital portfolio.

As the firm enters into a definitive agreement to acquire iSoftBet for approximately €160m in cash, the process will also see the IGT gain the developer’s proprietary game aggregation platform to distribute third-party games, as well as data-driven promotional and user-engagement tools.

Vince Sadusky, IGT CEO, commented: “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.

Expected to be completed during the second quarter of 2022, subject to the satisfaction of customary closing conditions, Oakvale Capital is acting as the lead financial advisor to IGT, with Wachtell, Lipton, Rosen & Katz acting as legal advisor and KMPG as tax and financial due diligence advisors.

Moreover, M. Firon & Co. and Wiggin are acting as legal advisors to iSoftBet.