Aristocrat Leisure Buys Social Gaming Giant Plarium
The Australian slot machine manufacturer Aristocrat Leisure has announced the successful completion of the acquisition of Plarium Global.
The Israel-based gaming company is one of the biggest names when it comes to social and mobile games, offering its extensive portfolio on all major social networks and across all platforms.
The company is especially proud of the fact it has more than 250 registered users on Facebook only.
At the present time, Plarium has more than 1,200 employees and seven offices and development studios in Europe and the United States.
Aristocrat announced the deal back in August, stating the purchase would involve a consideration of $500 million. According to the company’s statement, the acquisition was funded using existing cash and a 7-year loan worth $425 million.
Under the provisions of the new deal, Aristocrat will make an earn-out payment to Plarium shareholders. The payment, which will be made for 2017 and 2018 and will be 10 times the last twelve months EBITDA.
Commenting on the latest deal, Aristocrat Leisure’s Chief Executive Officer and managing director, Trevor Croker, said the acquisition would increase the company’s presence in the high-growth and extremely competitive mobile gaming market
Croker added the acquisition would expand the addressable market from $3.2 billion to $25.4 billion.
According to him, this acquisition serves as the testament to the company’s dedication and commitment to pursuing high growth.
About Aristocrat Leisure
The Sydney-headquartered company is the largest slot machine maker in Australia and the second largest one in the world.
Founded in 1953, Aristocrat is today licensed in more than 200 jurisdictions.
The company offers spinning reel slot machines, gambling systems, computerized card game simulations, electronic table games and linked jackpot systems.
Aristocrat’s most popular title is Queen of the Nile.