EveryMatrix Begins Cash Offer for Fantasma Shareholders
EveryMatrix Software Limited, a key player in the iGaming industry, has introduced an exciting opportunity for shareholders of Fantasma Games AB. The company is making a recommended public cash offer, valuing each share of Fantasma at SEK 59. This offer not only offers a substantial premium over recent trading prices but also reflects EveryMatrix's strategic aim to strengthen its gaming portfolio.
Details of the Offer
Cash Offer Overview
The cash offer stands at SEK 59 per share, amounting to a total valuation of roughly SEK 209.8 million for Fantasma. This proposal is especially attractive, as it includes a 21.40% premium over the last closing price of Fantasma shares before the announcement. Moreover, it features a 27.69% premium when compared to the volume-weighted average share price over the past 30 trading days.
Recommendation from the Independent Committee
The independent bid committee of Fantasma, which consists of seasoned board members, has supported the offer and urged shareholders to accept it. This recommendation is enhanced by a fairness opinion provided by Svalner, asserting that the offer is financially favorable for the shareholders.
Reasons for the Acquisition
EveryMatrix is well-known for its sophisticated B2B software solutions designed for the iGaming sector. A prominent product in their lineup is the Casino Engine, which generates substantial revenue through strong client engagement. With this acquisition, EveryMatrix aims to boost its game development abilities, positioning itself for growth by purchasing Fantasma, a celebrated game developer.
Enhancing Distribution of Games
This acquisition will improve EveryMatrix's distribution capabilities, especially in the expanding U.S. iGaming market. With existing licenses and contracts, integrating Fantasma's game offerings will significantly enhance the variety and quality available through EveryMatrix. This collaboration is anticipated to create important synergies and expand their customer base.
Market Implications
For stakeholders in Fantasma, this cash offer highlights an opportunity to obtain immediate value from their shares. The proposal aligns with EveryMatrix's strategy of efficiently scaling operations by combining resources, a necessity in the increasingly competitive iGaming environment.
Future Expectations and Conditions
The offer is contingent upon gaining over 90% acceptance from Fantasma shareholders, ensuring a solid base for a successful merger. EveryMatrix intends to manage this process transparently, providing updates as needed while adhering to all regulatory requirements.
Overview of EveryMatrix
EveryMatrix operates on a global scale, focusing on delivering innovative software solutions across various platforms, including casino, sports betting, payments, and affiliate management. The company serves a diverse range of clients, boasting over 300 customers worldwide. With a robust financial history, EveryMatrix generated more than €81 million in EBITDA in a recent fiscal year and retains significant cash reserves to support its growth plans.
Considerations for Management and Employees
EveryMatrix is dedicated to preserving Fantasma's existing management team and workforce. This commitment aims to ensure continuity and stability for employees during and after the acquisition, fostering a collaborative effort to reach shared objectives.
Frequently Asked Questions
What is EveryMatrix's offer for Fantasma shares?
EveryMatrix has put forth a cash offer of SEK 59 per share for all outstanding shares of Fantasma.
How does this offer benefit Fantasma shareholders?
This offer provides an immediate premium over the current share price, enabling shareholders to access liquidity.
What does the independent committee's recommendation signify?
The recommendation from the independent committee reflects a strong belief in the offer's fairness and its value for shareholders.
What are the conditions necessary for the offer to be finalized?
The offer depends on acquiring more than 90% of Fantasma shares and securing required regulatory approvals.
How does EveryMatrix plan to assimilate Fantasma?
EveryMatrix intends to boost collaboration without making significant changes to the operational structure or workforce of Fantasma.
