Online betting firm GTech Interactive Limited confirmed the completion of its acquisition of mobile slots developer Probability this week.
The deal is estimated to be worth about $30.5 million and will see GTech take over full ownership of the mobile slots developer that has become a prominent name in the mobile slots market.
As part of the deal, Probability will now operate as a subsidiary company under the GTech umbrella and will continue to develop and release mobile slots titles for the mobile platform.
GTech President of Products and Services Renato Ascoli said “With the mobile gaming market poised for significant growth over the next several years, we view the acquisition of Probability as a logical stepping stone for advancing our mobile gaming strategy both internationally and in the US, particularly for new and existing WLA customers and commercial customers. Probability’s unique content service offerings and its exclusive game development and management platform will further advance our mobile strategy.”
Probability CEO Charles Cohen stated “This acquisition will facilitate the immediate pooling of knowledge and expertise currently within GTech and Probability, allowing us to accelerate deployment of existing game technology into the mobile market as well as pursue cross-selling opportunities.”
Cohen added “The combination of GTech’s global presence coupled with the market efficacy of our integrated solutions will position us to take advantage of Gaming 2.0 – the next critical phase of the gaming market characterized by the dominance of mobile.”