Renowned B2B iGaming software provider EveryMatrix has publicly announced the acquisition of all shares of Fantasma Games AB, a prominent online casino game developer headquartered in Sweden. The offer is priced at 59 Swedish Kronor per share, totaling 209.8 million Swedish Kronor in cash, reflecting EveryMatrix's strategic move to enhance game output and market influence.
Acquisition Details and Market Impact:
This proposed acquisition will significantly enhance EveryMatrix's product portfolio, adding popular games currently integrated with over 250 operators and loved by millions of players across 50 countries/regions. Fantasma Games is known for its strong management team and robust game production capabilities. The transaction is expected to generate significant synergies by combining the strengths of both companies.
EveryMatrix is one of the world's largest game aggregators, with its SlotMatrix platform hosting over 29,000 games from more than 330 third-party studios, in addition to games developed internally by Armadillo Studios. The inclusion of Fantasma products will further solidify EveryMatrix's leading position in the iGaming industry.
Shareholder and Market Reaction:
More than 50% of Fantasma Games shareholders have already signed binding agreements to sell their shares. However, the success of the acquisition depends on the acceptance of at least 90% of shareholders. According to EveryMatrix, the acceptance period for this acquisition is scheduled from September 19, 2024, to October 10, 2024, with EveryMatrix reserving the right to extend this period if necessary.
Fantasma's official press release provides detailed information about the offer. Its price is 21.4% higher than Fantasma's closing stock price on September 17, 2024 (the last trading day before the announcement), 27.7% higher than the 30-day volume-weighted average price, and 33.4% higher than the 90-day average price, highlighting EveryMatrix's valuation of Fantasma's assets and market potential.
This acquisition is part of EveryMatrix's broader strategy to expand its content supply and market coverage. Previously, EveryMatrix expanded its iGaming platform CasinoEngine through collaborations with studios like Peter & Sons, enhancing its range of available games.
Fantasma's independent bid committee, composed of board members Antonia Svensson, Johan Styren, and Johan Köningslehner, recommends shareholders accept the offer. This recommendation is supported by a fairness opinion from Svalner Skatt & Transaktion KB, affirming the financial reasonableness of the proposal.
Key shareholders, including Fredrik Johansson and KL Capital AB, controlling 50.79% of Fantasma's shares, have agreed to accept the offer, subject to certain conditions. The completion of this acquisition requires regulatory approval and the satisfaction of other customary conditions.
EveryMatrix's proactive approach to acquiring Fantasma Games highlights its commitment to enhancing its technological capabilities and service offerings in the iGaming sector, promising a more diverse and robust platform for global players and operators.
