EveryMatrix moves to acquire Fantasma Games in $20.5 million deal

iGaming software and solutions provider EveryMatrix has announced a recommended public offer to acquire all shares in Fantasma Games AB for SEK 59 ($5.79) in cash per share, with a total cash consideration of SEK 209.8 million ($20.58 million). Shares in Fantasma Games AB are listed on Nasdaq First North Growth Market Sweden.

The acceptance period for the offer is expected to commence on September 19 and expire on October 10. The purchase would "significantly strengthen" EveryMatrix's games output with the immediate addition of well-known titles that are integrated with more than 250 operators and played by millions of players across 50 countries, the company said.

EveryMatrix is the world's largest games aggregator via its SlotMatrix aggregation platform with more than 29,000 games across 330+ third-party studios, in addition to its own in-house games development within Armadillo Studios. 

Fantasma Games is a games developer with "a well-established games production and distribution," EveryMatrix underscored. The company recorded EBITDA of €0.39 million ($0.43 million) for Q2, a profit margin of 36%.

The proposed transaction would strengthen the EveryMatrix games division with strong synergies between both companies, according to a press release.

More than 50% of the Fantasma Games shareholders have signed binding agreements to sell their shares. The bid is conditional on at least 90% of shareholders accepting the offer. EveryMatrix will issue a further update upon the conclusion of the process.