Tuesday November 24,2015 : NYX GAMING GROUP ACQUIRES SIDE CITY
Canadian development studio provides new opportunities in North American market.
NYX Gaming Group has acquired the Montréal-based Side City development studio through its wholly-owned subsidiary, NYX Digital Gaming (Alberta) Inc. for a consideration of 333,000 ordinary shares of NYX and a maximum performance-based cash payment of CAD $4.0 million conditional upon Side City meeting certain performance criteria for the 2016 and 2017 calendar years.
Side City studios operates as a game development company specialising in the design, production and programming of land-based and online gaming products that caters traditionally to a North American bricks-and-mortar clientele.
NYX said the acquisition provides the company with an excellent base in North America to expand its development capabilities in the talent rich market of Montréal.
"Side City is another example of NYX's ability to identify and execute on investments that fit into the global content strategy of the company,” Matt Davey, Chief Executive Officer, NYX Gaming Group said.
“Further, Side City gives us unique content for the North American market that complements our existing North American business and gives us an entry point to the United States land-based market with existing customer relationships."