Gaming software firm agrees takeover

GAMING software company Inspired Gaming Group has agreed to a £74.4m takeover from UK private equity firm Vitruvian Partners, bringing eight months of offer talks to a close.
By The Newsroom
Published 4th May 2010, 10:47 BST

The offer of 60 pence in cash per Inspired share represents a 21 per cent premium to the closing price on April 30, the last business day prior to the announcement of the takeover deal.

"We believe that the acquisition fairly reflects both Inspired's future growth prospects and the challenges of executing its business plan as a publicly listed company," said Inspired's senior non-executive director Julian Paul.

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Inspired Gaming, whose customers include Betfred, Paddy Power and Gala Bingo, said it had received a preliminary approach in July last year, after terminating previous talks relating to a sale.

Vitruvian Partners made the offer for Inspired Gaming through Gaming Acquisitions and the offer which Inspired's board intends to recommend to shareholders, will see the management of Inspired Gaming invest in the new company as part of a management buyout deal.

Inspired Gaming said shareholders would be offered shares in the new company as an alternative to a cash consideration for their shares in Inspired under a Holdco Group Securities Alternative.

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