Games Global considers reverse merger with US-based SPAC
Newly-launched supplier reportedly in talks with Tailwind International Acquisition Corp over a potential $3bn merger
Games Global is reportedly in talks to go public in a merger with US-based special purpose acquisition company (SPAC) Tailwind International Acquisition Corp.
According to Bloomberg¸ the supplier has signed a letter of intent regarding the transaction which would value the combined entity at more than $3bn.
However, terms of any potential merger are yet to be finalised and could still collapse according to sources with knowledge of the matter.
Tailwind raised $345m in February 2021 as part of an initial public offering (IPO) and said at the time it would focus on combing with international tech and direct-to-consumer companies.
SPAC deals typically serve as an important vehicle for operators and suppliers to go public far quicker than they would do via a traditional IPO.
Games Global was founded in 2021 as a private-capital company led by CEO Walter Bugno, formerly of IGT and Lottomatica, and CFO Tim Mickley, previously of SafeCharge and Playtech.
In November 2021, EGR revealed Games Global had concluded deals to acquire Microgaming’s Quickfire distribution business as well as significant interests in several igaming studio businesses.
The deal, which is expected to close in Q2 2022, will see Games Global acquire a catalogue of more than 3,000 games, as well as a network of 260 existing customers operating more than 980 gaming brands.
The combined group will employ more than 1,100 employees spread across Europe, North and South America, Oceania and South Africa.