Swedish computer game giants set to acquire Lion Gaming Group for SEK475m

Adventure Box has taken a significant step closer to its first foray into the online gambling market after signing a letter of intent to snap up Lion Gaming Group
The post Swedish computer game giants set to acquire Lion Gaming Group for SEK475m first appeared on EGR Intel.  

Swedish computer game technology company Adventure Box is set to enter the online gambling space after committing to acquire Canadian supplier Lion Gaming Group for SEK475m (£35.3m).

The Stockholm-headquartered firm has penned a letter of intent to acquire 100% of the shares of Lion Gaming Group, with the fee set to be paid via newly issued shares in the tech firm at a price of SEK0.40 per share. 

The acquisition is expected to be finalised within H2 this year.

As for Lion Gaming Group, the Canadian supplier boasts a projected 2024 turnover of SEK350m and EBITDA of SEK180m.

Major shareholders in the company, which includes venture capitalists from Canada, the United States and Europe, are believed to have given their backing towards the acquisition.

Adventure Box provides streamed games via its online platform, KoGaMa, where users are able to create, share and play 3D computer games. The platform sees more than 750,000 monthly active users, according to internal data.

Lion Gaming Group’s offerings include fully customisable white-label sportsbook and casino solutions. The company holds multiple licences, including Malta and Curaçao.

The integration between the supplier’s Fer0x Engine, which powers the technology it provides to operators, and Adventure Box’sKoGaMa is highlighted as an attractive prospect by Mads Jørgensen, chairman of the Adventure Box board.

He remarked: “We are creating a major new player in the igaming market through the acquisition of Lion Gaming Group, and we see opportunities for synergies between the KoGaMa platform and Lion’s gaming platform. 

“This acquisition lays the foundation for a global player powered by power, bleeding-edge technologies that will change the game for operators, suppliers and, most importantly, players.”

Adventure Box CEO Michal Bendtsen shed light on what benefits the group expects to reap as a result of acquiring Lion Gaming Group. 

“This strategic move significantly enhances our footprint in the video game industry,” Bendtsen explained. 

“This acquisition not only broadens our scope and capabilities within the gaming ecosystem but also introduces new revenue streams. We are confident this will bring value to our shareholders and accelerate our growth trajectory in the ever-evolving gaming market.”

Duncan McIntyre, CEO of Lion Gaming Group, added: “We look forward to becoming part of Adventure Box Technologies AB and benefiting from their extensive experience and resources to further develop our business. 

“This merger gives us the opportunity to benefit from synergies and strengthen our presence globally, which benefits both our customers and shareholders. 

“We are confident this transaction will provide us with the tools and support we need to continue to be a leader in igaming technology through organic growth and acquisition of new businesses.”

The post Swedish computer game giants set to acquire Lion Gaming Group for SEK475m first appeared on EGR Intel.

 

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