JPJ Group acquire Gamesys for £490 million
The Board of JPJ has announced that it has entered into a conditional agreement to acquire the business of Gamesys (Holdings), excluding sports brands and games, for a mixture of cash and new JPJ shares.
The Acquisition will enhance scale, creating a group which is strategically well positioned for future growth in an evolving global gaming sector. The combined JPJ and Gamesys businesses together the Enlarged Group will benefit from a diversified portfolio of leading consumer brands; greater operational control through proprietary technology; and a complementary executive and operational team. The Acquisition will result in a strategically aligned Enlarged Group with a strong financial profile set to compete in an evolving marketplace.
Neil Goulden, Executive Chairman of JPJ, commented: “This Acquisition marks an important transformational step in JPJ’s growth, providing significant benefits for shareholders, employees and customers. For shareholders, we expect the Acquisition to deliver earnings accretion in the first full financial year of ownership, while our employees will benefit from the combination of two companies with a strong commitment to responsible gaming and where the greater scale will further enhance our product development and technology capabilities. Our customers will also now have an even greater choice of major brands and different games, all on one platform, creating a truly leading UK and international operator. The rationale for the acquisition of Gamesys is based on growth and both teams – at JPJ and our new colleagues joining us from Gamesys – are excited and motivated by the great opportunity which lies ahead.”
Lee Fenton, Chief Executive of Gamesys and proposed Chief Executive of the Enlarged Group, commented:”I am very excited to join the Enlarged Group as CEO. This is a strategically important transaction that adds scale and combines complementary capabilities as the competitive and regulatory environment continues to evolve. The Enlarged Group’s combined brand portfolio, strategically aligned operating structure, technology capabilities and exceptional combined talent base will create significant opportunities for growth in the market.”