Gtech Completes Probability Acquisition
Monday May 5,2014 : GTECH COMPLETES PROBABILITY ACQUISITION (Update)
Advancing mobile gaming strategy
GTECH S.p.A. subsidiary GTECH Interactive Limited has completed the cash acquisition of the entire issued share capital of UK-based, AIM listed mobile gaming firm Probability Plc for around GBP 18 Million
Renato Ascoli, GTECH S.p.A. President of Products & Services said: “With the mobile gaming market poised for significant growth over the next several years, we view the acquisition of Probability as a logical stepping stone for advancing our mobile gaming strategy both Internationally and in the U.S., particularly for new and existing WLA customers and commercial customers. Probability’s unique content service offerings and its exclusive game development and management platform will further advance our mobile strategy.”
“This acquisition will facilitate the immediate pooling of knowledge and expertise currently within GTECH and Probability, allowing us to accelerate deployment of existing game technology into the mobile market as well as pursue cross-selling opportunities,” said Charles Cohen, Probability chief executive officer. “The combination of GTECH’s global presence coupled with the market efficacy of our integrated solutions will position us to take advantage of Gaming 2.0 – the next critical phase of the gaming market characterized by the dominance of mobile.”
Probability will operate as a subsidiary of GTECH UK.