Monday February 15,2015 : MORE INDUSTRY CONSOLIDATION?
Report that William Hill is financially supporting an NYX Gaming bid to acquire Openbet.
According to a report in the respected UK newspaper The Telegraph over the weekend there could be more online gambling industry consolidation on the way.
The newspaper reported that William Hill plc is financially supporting a bid by NYX Gaming to acquire Openbet, a major and well-established industry technology provider that includes many top online gambling companies on its client list.
NYX has been expanding in recent times, adding Ongame, Chartwell Tech and Cryptologic to its stable in deals with Amaya, along with Canadian game developer Side City and even a Serbian technology consulting outfit titled eGaming Consulting (see previous InfoPowa).
Openbet is owned by the private equity company Vitruvian Partners, who have apparently engaged the professional business services of Morgan Stanley to progress negotiations and advise on the potential acquisition, with a consideration of around GBP 300 million in mind.
Vitruvian paid GBP208 million for Openbet back in 2011.
However, Will Hill may not be the only corporate interested in Openbet; the newspaper notes that there has been speculation that Playtech is also eying the company