|Interactive Gaming Holdings, a company focused on consolidating quality gaming related media and technology companies, has announced the acquisition of Mathew Simmonds International Limited and its wholly owned subsidiary Heathorns International Limited.|
The consideration for the acquisition comprises the payment on completion of £500,000 in cash, the issue of 2,000,000 Ordinary Shares (valued at £180,000 at the placing price) and £75,000 deferred payable over 2 years.
Established in 1890, Heathorns is the world's oldest established bookmakers, focused on horse racing, football, cricket, rugby, golf and NFL sports betting.
IGH are hoping that the acquisition of Heathorns will represent a platform for growth and enhance IGH's product offering with a long established brand recognised throughout the UK. They will be looking to provide significant cross-selling opportunities across the enlarged customer base and attract customers to an expanded website incorporating sportsbetting, casino and poker.
IGH was established in 2004 to acquire majority or total ownership of content portals and other related e-gaming sites within the e-gaming sector. Commenting on the acquisition, Thomas Taulé, Chairman and Chief Executive of IGH said, ‘We are very pleased to have acquired such a high quality business as Heathorns and we look forward to developing the Heathorns brand especially its online offer.’
‘The success of the placing and the level of support we have received reinforces our strategy of enhancing shareholder value through organic growth and via further strategic acquisitions in the dynamic e-gaming and sports betting arenas.’