Amaya Gaming Finalizes Purchase of Chartwell Technology
The Canadian based Amaya Gaming Group announced that it has finalized the acquisition of Chartwell Technology Inc. this week.
At a special meeting of Chartwell shareholders that was held earlier this month, 100% of those present voted in favour of the acquisition.
As such, under the acquisition deal, Amaya purchased all Chartwell's outstanding shares for around $22.77 million.
Shareholders will receive $15 million in cash, and 2,777,356 Amaya common shares.
456,000 options were granted to officers and employees of Chartwell, at an exercise price of $2.85, subject to the provisions of
Chartwell's shares will be delisted from the Toronto Stock Exchange.
The President and Chief Executive Officer of Chartwell, Darold H. Parken said: "The diversified business mix of Amaya and Chartwell is truly complementary and will provide a compelling proposition for all stakeholders moving forward."
"This combination brings tremendous global opportunity in both the land based and online gaming arena and exemplifies the convergence that the industry is experiencing today," he said. "As we execute the merger and take full advantage of the synergies in operation, development and services we become a much stronger competitor."
Amaya Thrilled with Deal
The President and Chief Executive Officer for Amaya, David Baazov said that his company was thrilled with the purchase.
"This seals a major strategic initiative to strengthen our interactive gaming portfolio and to expand the scalability of our government solutions offering," he said.
"Amaya is well positioned to leverage the acquired technologies and resulting synergies to expand its footprint in the government regulated interactive gaming space."
