Casino and fintech provider Everi Holdings has entered into an agreement to acquire certain strategic assets from Australia-based gaming content developer and provider Atlas Gaming Technologies.
Financial terms of the deal were not disclosed, but it has been confirmed that Everi will buy game development technology and intellectual property from Atlas.
Everi, who has said he expects the deal to be completed within the next 60 days, said the assets will complement its existing game development studios and game portfolio, as well as provide a path for future expansion into new markets around the world.
Along with the acquisition of the assets, members of the Atlas development and engineering team will join Everi.
Everi added that he intended to finance the acquisition from existing cash.
“We look forward to the game developers and engineers at Atlas bringing a global perspective that will help us execute a stronger product roadmap and support our growth strategy of delivering top-notch content,” Dean Ehrlich, Executive Vice President and Business Leader of Everi Games. noted.
“This transaction strengthens Everi’s development capabilities and will further strengthen the future expansion and differentiation of our gaming products.
“We plan to leverage the Atlas development team and asset purchasing to deliver more original content to our current customer base while creating an opportunity to further penetrate the markets Atlas has always served,” including Australia. ”
The deal comes after Everi in December announced plans to restructure its management team, moving Michael Rumbolz from chief executive officer to executive chairman, while chief operating officer Randy Taylor takes over in as CEO.
Each of the new appointments is due to take effect on April 1 of this year.
In October last year, Everi also acquired some strategic assets of Meter Image Capture, a provider of progressive meter reporting solutions for the gambling industry.