Isle of Man-based Playtech told investors it had accepted an offer worth 680 pence a share, which is a 58.4% premium on Playtech’s closing price on Friday.
The move is expected to be completed in the second quarter of 2022, if shareholders approve the deal, the companies said.
The combination will create one of the largest business-to-business gaming companies in the world and follow a period of intense acquisition activity in the UK gambling industry.
Playtech, which was founded in 1999, has pursued a recent growth strategy, including expansion in North America, and believes the deal will help it accelerate those plans.
Managing Director Mor Weizer said, “This transaction marks an exciting opportunity in the next stage of growth for Playtech, and offers significant benefits to our stakeholders, including our customers, shareholders and our incredibly talented people.
“This agreement has the potential to improve our distribution, our ability to build new and deeper relationships with partners, and strengthen our technological capabilities.
“The combination of our two companies creates one of the largest B2B gaming platforms in the world, with the people, infrastructure and expertise to provide our customers with a truly best-in-class offering across the board. the fields of games and sports betting. “
Trevor Croker, Managing Director of Aristocrat, said: “The combined group would offer a broad portfolio of end-to-end solutions for gaming customers around the world, as well as seamless player experiences, underpinned by a common focus on a responsible gameplay and innovation. .
“The recommended offering is complete and fair value and reflects the strategic potential of the suit in a global gaming industry that continues to migrate online, driven by technology and deep-seated consumer change.
“The proposed acquisition continues Aristocrat’s approach of investing in medium to long term growth and we are extremely excited about the opportunities this will bring to our shareholders, individuals, customers and players. “
