Thursday May 7,2015 : S.N.A.I. AND COGEMAT TO MERGE
Euro 225 million agreement signed.
The Italian gambling market was buzzing Thursday as news of a major Euro 225 million merger between sports betting operator Gruppo SNAI and technology, equipment and content provider Cogemat broke.
The assets and subsidiaries, including Cogetech, will be taken over by SNAI after the company reached agreement on a merger arrangement with major shareholders, Global OI and Games 2.
Industry observers said the merger would help SNAI achieve its ambitions to expand its digital and gaming machine supply activities.
In a press statement SNAI explained that the deal will strengthen its presence in sports and horse racing, along with the Euro 48 billion gaming machine market.
Cogemat shareholders will be awarded 38 percent of the shares of a new company set up to facilitate the merger.