Fladgate was pleased to act on the sale of Red Tiger Gaming Limited, a leading online casino game software supplier to digital entertainment company, NetEnt.
The accelerated deal completed on Thursday 5 September 2019 with the initial consideration being £197m and up to £23m may be payable in addition in 2022 on an earn-out basis.
NetEnt is a supplier of digitally distributed gaming systems used by some of the world’s most successful online gaming operators. The acquisition will enable NetEnt to continue to achieve its global reach whilst adding value to its players and operators.
Gavin Hamilton, CEO of Red Tiger Gaming Limited commented, “This is an exciting new stage of the Red Tiger story and we are delighted to become part of the NetEnt group. Accessing NetEnt’s unparalleled distribution network and geographic footprint will unlock new opportunities for Red Tiger and will further accelerate our growth. The Fladgate team were exceptional and played a crucial role in completing this deal, delivering strategic and valuable advice throughout the deal with best-in-class service, as always.”
Lead Partner, Grant Gordon commented, “We are delighted to have represented Red Tiger on this significant deal. There are clear synergies between Red Tiger Gaming and NetEnt and great things await the combined business.”
Grant was supported by Corporate Partner Amy Collins, IP/Tech Partner Alan Wetterhahn, Tax Partner Hamilton Forrest, Senior Associate Orit Rioumine-Gold, Associates Ben Milloy and Emily Comber, and Trainees Laura Priestley and Tim Reinhard.