One of the most prominent Australia-based gaming machine developers, the Ainsworth Game Technology Limited company has just recently announced the signing of a valuable business deal which will see the company’s United States-based subsidiary expand its presence in this area. As revealed by the company’s officials, the American subsidiary of Ainsworth Game Technology Limited will invest around $26 million to purchase the MTD Gaming Incorporated which is a local gaming content specialist.
The Sydney-based company used an official press release from several days ago to shed more light on its latest business agreement that involves the company’s subordinate offering an initial of $13 million in order to acquire the local gaming content supplier which is a privately-owned company.
Officials of Ainsworth Game Technology Limited also declared that this business arrangement will include deferred consideration which will probably be worth around $13 million. According to the company’s officials, the deferred consolidation involved in the deal will be payable once contract renewals and financial targets are successfully delivered.
Details about Ainsworth Game Technology Limited
The Ainsworth Game Technology Limited company was founded back in 1995 by Len Ainsworth who founded the company with the main goal of becoming one of the leading suppliers and manufacturers of gaming software, gaming machines, and other related equipment. Today, this Australia-based company is part of the rich gaming industry that focuses on the manufacturing of gaming machines which are not only available in Australia, but also worldwide.
Moreover, Ainsworth Game Technology Limited has grown massively since its inception to become one of the premier manufacturers and suppliers of gaming products. Its hard-working team has over two hundred years of combined experience. With such a powerful team working behind the scenes, Ainsworth Game Technology Limited remains one hundred percent committed to delivering only the highest quality, excellence and innovation to its customers.
Ainsworth Game Technology Limited distributes its products through its distributors in Europe, Asia, New Zealand, and Australia. Thanks to its latest acquisition deal with the MTD Gaming Incorporated, the company will most certainly expand its already growing presence in the United States. Commenting on the news about the acquisition, the company’s officials described MTD Gaming Incorporated as a proven supplier and developer of premium, innovative and unique keno, and poker games.
The Acquisition Funded by the Company’s Cash Reserves
MTD Gaming Incorporated is a Montana-headquartered company that focuses on the development of unique video reel gaming content which is commonly used in video lottery and multi-game terminals. Officials of Ainsworth Game Technology Limited said in one of the company’s official press releases that MTD Gaming Incorporated’s advances will be very complementary to its own selection of products which at the moment are installed at a variety of locations across South Dakota, Louisiana, and Montana.
Commenting on the latest acquisition deal, the Sydney-based company also said that this business deal is funded from the company’s cash reserves and debt facilities. The company’s officials also said that the deal will involve gaming products from the acquired company being rolled out to certain gaming venues located in Nevada, Arizona, California, and New Mexico. A statement from the company’s Chief Executive Officer Lawrence Levy reads that the acquisition of MTD Gaming Incorporated marks just another great step for his company towards improved growth and profitability.