Sega Sammy Holdings, the Japan-based gaming giant formed by the merger of Sega and Sammy Corporation, increasingly closer to the gambling market.
In the last months Saw Sammy Holdings had in fact reached a definitive agreement for the acquisition of GAN for approximately 107,6 million dollars (approximately 100,8 million euros).
Under the agreement, Sega Sammy will pay $1,97 for each share of the online gambling solutions provider.
Sega Sammy said the acquisition of GAN will help expand its gaming business and a much broader portfolio of games. The company already operates an integrated resort through Paradise City in Japan, while providing gaming equipment and content through its Sega Sammy Creation (SSC) division.
Much of the expansion will focus on the US igaming market, with Sega Sammy saying it has identified "promising" growth opportunities in the country.
The deal is subject to several closing conditions, including approval by GAN shareholders and a vote was held at a meeting yesterday (13 February) with over 95% of votes in favor of the deal.
According to the plans set out in the agreement, GAN will merge with the new company and the brand will be maintained.
Once completed, GAN will cease to be a publicly traded company. Its common stock will be delisted from the Nasdaq Capital Market.
