Light & Wonder completes SciPlay acquisition
Supplier giant puts final touches on transaction which it says will “deliver enhanced shareholder value"
Light & Wonder has completed the acquisition of the remaining 17% equity interest in SciPlay for $22.95 (£18.73) a share.
The acquisition of the 17% was confirmed in August, as the supplier giant upped its previous offer of $20 per share.
As a result of the completion of acquisition, SciPlay will now operate as a wholly owned subsidiary of Light & Wonder.
Additionally, SciPlay’s common stock will no longer be publicly traded on the Nasdaq Global Select Market.
During the process, Macquarie Capital served as Light & Wonder’s financial advisor while Swaine & Moore LLP acted as legal advisor.
On SciPlay’s side, Lazard Frères & Co served as financial advisor and Sullivan & Cromwell LLP acted as legal advisor.
Matt Wilson, Light & Wonder CEO, championed the integration of SciPlay into the wider supplier business.
He said: “Fully integrating SciPlay with Light & Wonder creates a more streamlined organisation with the financial strength to accelerate our cross-platform strategy and deliver enhanced shareholder returns.
“SciPlay continues to achieve record-setting results and market outperformance, and we are confident that together we will build on their considerable momentum.
“As one company, we will drive improved collaboration between our talented teams to build and deploy the most engaging games across our digital and land-based platforms and create a more seamless, best-in-class player experience,” he added.