Adventure Box Technologies Outlines Acquisition of Lion Gaming
Adventure Box Technologies AB has made a strategic move to expand by announcing it is planning the acquisition of Lion Gaming Group Inc.
Adventure Box bids to acquire Lion Gaming.
LISTEN TO THIS ARTICLE:Adventure Box Technologies AB has signed a Letter of Intent to acquire Lion Gaming and has prepared an offer of a purchase price of approximately SEK 475 million (USD 45 million) for 100% of the company, which equates to a share price of SEK 0.40 per share.
In the statement, Adventure Box says it hopes to finalize the purchase in the second half of this year, following the completion of due diligence by the developer and approval from its shareholders at the upcoming AGM.
We are creating a major new player in the iGaming market through the acquisition of Lion Gaming Group, and we see opportunities for synergies between the KoGaMa platform and Lion's gaming platform. This acquisition lays the foundation for a global player.
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Adventure Box Expects Synergies and Increased Revenue Streams
Adventure Box states it believes the acquisition will propel the Swedish business into a major player in the domestic gaming market and plans to make the company a global leader in the gaming industry. Lion Gaming is enjoying a successful start to this year, with revenue so far standing at SEK 350 million (USD 33 million), with an EBITDA of approximately SEK 180 million (USD 17 million).
The acquisition signifies that Adventure Box is trying to diversify its gaming portfolio and believes its Kogama platform and Lion's gaming platform can achieve significant synergies in the business. Adventure Box is set to achieve additional revenue streams from the iGaming industry.
This strategic move significantly enhances our footprint in the video game industry. This acquisition not only broadens our scope and capabilities within the gaming ecosystem but also introduces new revenue streams. We are confident that this will bring value to our shareholders and accelerate our growth trajectory in the ever-evolving gaming market.
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