One dollar per share was all it took for Novomatic AG Group to acquire Ainsworth Game Technology. The two companies announced a “scheme of arrangement” on April 28, whereby all outstanding shares of Ainsworth will be purchased by Novomatic for $1 apiece.
Novomatic already held a 52.9 percent stake in Ainsworth, whose board unanimously recommended the deal. The Novomatic position has been held since 2016.
An affirmative shareholder vote is required before the transaction can close. Novomatic’s “offer is not conditional on due diligence or regulatory approvals. Foreign Investment Review Board approval has been received,” according to a formal statement.
Novomatic board member Stefan Krenn said, “The acquisition of Ainsworth is consistent with our international growth strategy and the expansion of our presence across the Asia-Pacific and the U.S. region. As a long-term shareholder, we are familiar with the business and believe that integrating Ainsworth into our operations is in the best interest of this strategy.”
Krenn added, “We look forward to welcoming the highly qualified and experienced Ainsworth employees into the Novomatic family to become part of our international growth and success.”
