EveryMatrix, a renowned B2B iGaming software provider, has made a public offer to acquire all shares of Fantasma Games AB, a prominent developer of online casino games based in Sweden. The offer, priced at SEK 59 per share, totals SEK 209.8 million in cash, reflecting a strategic move to bolster EveryMatrix’s gaming output and market footprint.
Acquisition details and market impact:
The proposed acquisition is set to significantly enhance EveryMatrix’s portfolio of offerings, adding well-known titles that are currently integrated with over 250 operators and enjoyed by millions of players across 50 countries. Fantasma Games is recognized for its strong management team and robust game production capabilities. The transaction is expected to deliver substantial synergies by combining the strengths of both companies.
EveryMatrix is notably the largest games aggregator in the world through its SlotMatrix platform, which hosts over 29,000 games from more than 330 third-party studios, in addition to its own in-house development within Armadillo Studios. The addition of Fantasma’s offerings would further solidify EveryMatrix’s position as a leader in the iGaming industry.
Shareholder and market reactions:
More than 50% of Fantasma Games shareholders have already signed binding agreements to sell their shares. However, the success of the bid hinges on securing at least 90% shareholder acceptance. As EveryMatrix reports, the acceptance period for this offer is scheduled from September 19, 2024, to October 10, 2024, with EveryMatrix reserving the right to extend this window if necessary.
The official Fantasma’s press release gives insights about the offer. Its price represents a 21.4% premium over the closing price of Fantasma’s shares on September 17, 2024, the last trading day before the announcement. It also reflects a 27.7% premium over the 30-day volume-weighted average price and a 33.4% premium over the 90-day average price, underscoring the value EveryMatrix places on Fantasma’s assets and market potential.
This acquisition is part of EveryMatrix’s broader strategy to expand its content offering and market reach. Previously, EveryMatrix has extended its iGaming platform, CasinoEngine, through partnerships with studios like Peter & Sons, enhancing its range of available titles.
The independent bid committee of Fantasma, comprising board members Antonia Svensson, Johan Styren, and Johan Köningslehner, has recommended that shareholders accept the offer. This recommendation is supported by a fairness opinion from Svalner Skatt & Transaktion KB, affirming the financial soundness of the proposal.
Major shareholders, including Fredrik Johansson and KL Capital AB, controlling 50.79% of Fantasma’s shares, have agreed to accept the offer, contingent upon meeting certain conditions. The completion of this acquisition is subject to regulatory approvals and other customary conditions.
EveryMatrix’s proactive approach in acquiring Fantasma Games highlights its commitment to enhancing its technological capabilities and service offerings in the iGaming sector, promising a more diversified and robust platform for both players and operators globally.
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