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Chartwell and Amaya’s deal completed

Chartwell Technology Incorporated, an iGaming software provider revealed that the deal of Amaya Gaming Group Incorporated acquiring them has now been completed.

Chartwell which is Chartwell Games (International) Limited’s parent firm revealed that this deal with Amaya to acquire them started in May after entering into an arrangement meeting and was approved by the Business Corporation Act (Alberta) earlier this month after a special meeting of shareholders took place.

Amaya, a server and network-based iGaming specialist bought Chartwell’s shares in an ‘arm’s length transaction’ way for CDN$22.7 million or $23.63 million. After this deal, Chartwell has been de-listed from the Toronto Stock Exchange and Amaya granted it’s workers an aggregate of 460,000 options at an exercise price of $2.85 each.

David Baazov, Amaya’s Chief Executive Officer and President stated that “we are thrilled with the closing of the Chartwell acquisition.”

“This seals a major strategic initiative to strengthen our interactive gaming portfolio and to expand the scalability of our government solutions offering. Amaya is well positioned to leverage the acquired technologies and resulting synergies to expand its footprint in the government-regulated interactive gaming space.”

While Darold Parken, Chartwell’s President and Chief Executive Officer stated that “the diversified business mix of Amaya and Chartwell is truly complementary and will provide a compelling proposition for all stakeholders moving forward.”

“This combination brings tremendous global opportunity in both the land-based and online gaming arenas and exemplifies the convergence that the industry is experiencing today. As we execute on the merger and take full advantage of the synergies in operation, development, products and services, we become a much stronger competitor.”

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