NOVOMATIC advances to full acquisition of Ainsworth Game Technology
NOVOMATIC AG Group has entered into a binding agreement to acquire the remaining shares in Ainsworth Game Technology, further expanding its international operations and presence across key gaming markets.
NOVOMATIC to take full control of Ainsworth
Already holding a majority stake in Ainsworth, NOVOMATIC has now agreed to buy the rest of the company’s shares for AUD 1.00 per share. The deal values Ainsworth at around AUD 353.6 million and offers shareholders a premium compared to recent trading prices – about 35% higher than the last market close and 28% above the one-month average.
Stefan Krenn, Member of the Executive Board at NOVOMATIC AG Group, commented:
“The acquisition of Ainsworth is consistent with our international growth strategy and the expansion of our presence across the Asia-Pacific and the US region. As a long-term shareholder we are familiar with the business and believe that integrating Ainsworth into our operations is in the best interest of this strategy. We look forward to welcoming the highly qualified and experienced Ainsworth employees into the NOVOMATIC family to become part of our international growth and success.”
The offer has been unanimously backed by Ainsworth’s Independent Board Committee, which reviewed the terms and concluded that the deal is in the best interests of minority shareholders, unless a better proposal appears.
Deal structure and next steps
Shareholders will vote on the proposal later this year. Final approval will also be needed from regulatory bodies and the Federal Court of Australia. However, key clearances – including from the Australian Foreign Investment Review Board – are already in place.
Daniel Gladstone, Chair of the Ainsworth Independent Board Committee, stated:
“The proposal put forward by Novomatic, who is already the majority shareholder of AGI, represents a significant premium to long term trading value and is compelling for AGI minority shareholders. The IBC has carefully evaluated the Proposed Scheme Consideration against the company’s medium-and long-term growth prospects and alternative opportunities, and has unanimously formed the view that the proposal represents attractive and certain value for AGI minority shareholders.”
Ainsworth is allowed to pay a fully franked special dividend before the transaction is completed, which would slightly reduce the final amount per share. If approved, the acquisition is expected to close in the second half of 2025.