IGT Acquires Gaming Content Provider iSoftBet For €160M Cash - Intl Game Tech (NYSE:IGT)

International Game Technology PLC IGT has agreed to acquire iSoftBet, an igaming content provider and third-party game aggregator, for approximately €160 million in cash.
The acquisition is expected to more than double the IGT PlayDigital content library to about 225 proprietary games.
The deal is expected to be completed in the second quarter of 2022.
"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," said CEO Vince Sadusky.
The company held $591 million in cash and equivalents as of December 31, 2021.
Oakvale Capital LLP is acting as the lead financial advisor to IGT.
Price Action: IGT shares closed higher by 2.81% at $23.06 on Friday.