Stride Gaming has completed the £70.2m (€84.7m) acquisition of gaming companies 8Ball, Netboost Media and Tarco Assets on 31 August.
[dropcap]T[/dropcap]he purchase will see Stride become the 4th largest online bingo player in the UK and the largest gaming operator in the UK who has its own proprietary software.
The company say the acquisition will increase Stride’s market share of the UK bingo market from 5 percent to 10 percent, as well as expanding its multi-branded offering by 96 brands to 105 brands, increasing Stride Gaming’s share of the UK online bingo landscape from 2 percent to over 25 percent (by number of bingo sites).
The acquisitions also augment the company’s vision to become the global market leader in the soft gaming vertical of the online gaming industry and are in line with Stride’s strategy to maximise shareholder value by achieving growth through organic and acquisitive means.
we remain focused on building Stride Gaming into the market leader in the soft gaming vertical of the online gaming industry
Stride Gaming CEO Eitan Boyd said, “This has been an exceptional period for the Group and the completion of these acquisitions will see us continue to build critical scale and become the fourth largest online bingo operator in the UK and the largest operator who has its own proprietary software.
“As many operators in the gambling sector continue to struggle in the face of renewed pressure from higher taxes and increased regulation, we in contrast are in a stronger position than ever to realise value and deliver synergies from these acquisitions.
“To this end, we remain focused on building Stride Gaming into the market leader in the soft gaming vertical of the online gaming industry. We will continue to eye opportunities to undertake further acquisitions whilst maintaining our robust organic growth. We look forward to updating the market on our progress in due course.”