Golden Matrix completes MeridianBet Group acquisition
Transaction completes after first being announced in January 2023 as management point to a “global enterprise” now ready to tackle 17 markets
Golden Matrix has finally completed the $300m (£236m) acquisition of MeridianBet Group after first announcing the deal back in January 2023.
The nine-figure move was approved by Golden Matrix’s board of director and shareholders at a special meeting held on 19 March.
The deal will see Golden Matrix acquiring full ownership of MeridianBet Group and its related companies in a cash, debt and stock transaction.
The common stock of the combined company will continue to trade on the Nasdaq Capital Market under the ticker GMGI.
Golden Matrix said the combination would result in a “global enterprise” with operations spread across 17 countries and four continents.
The conclusion of the deal comes after Golden Matrix management claimed in January this year that it was planning to finalise the deal during Q1.
The acquisition had faced several hurdles since first being announced, with initial upfront cash payments and payment methods having been altered.
The Love Law Firm acted as Golden Matrix’ legal counsel throughout the process, while Howard & Howard served as the seller’s legal counsel.
Brian Goodman, Golden Matrix CEO, said: “This is a momentous occasion, and one that we believe will result in a fundamental, as well as a transformational, change for our rapidly growing company.
“The consolidated businesses are expected to deliver significant increases in both revenues and profitability.
“We believe we are now well positioned to continue our growth trajectory and deliver incremental value to all our stakeholders,” he added.