Aristocrat Leisure has finalised its previously announced acquisition of social gaming company Plarium Global Limited on Friday.
In August, Aristocrat revealed that it had agreed a deal to purchase the Israeli-based company for an upfront amount of $500m (€423.5m).
Aristocrat has now obtained all necessary regulatory and other approvals, with respect to the deal, and will now take ownership of the company.
Plarium is a privately owned, free-to-play mobile, social and web-based developer that employs more than 1,200 people across five genre-specific studios and multiple offices throughout Europe, Israel and the US.
“This acquisition is truly compelling as it increases our presence in the high-growth mobile gaming market and substantially increases the digital segment’s pro forma earnings contribution to Aristocrat. The acquisition reiterates our firm commitment to pursuing high growth adjacencies and increasing our recurring revenue base. Importantly, the acquisition is expected to be EPSA accretive in year one and key management personnel have remained in the business. We are delighted to have Plarium and its exceptionally talented team join the Aristocrat family; we look forward to continue building our already very successful digital business together, for the benefit of Aristocrat’s shareholders and other stakeholders.”Trevor Croker, managing director of Aristocrat