Stride Gaming Acquires Israeli Mobile Social Gaming Company InfiApps For $39 Million
UK bingo operator Stride Gaming plc (AIM: STR) has acquired Israeli mobile social gaming company InfiApps for $39.2 million.
Under the agreement, $21.2 million in cash will be payable on completion of the deal, with an additional earn-out consideration of up to $18 million payable in cash depending on InfiApps achieving certain financial targets in the next two years.
Founded in 2012, InfiApps provides players with a range of games, some of its main apps are Penguin, including its flagship ‘Slot Bonanza’ social casino title that boasts approximately 5.2 million downloads worldwide.
The firm posted $2.3 million in audited profit before tax during the five months through to May 31 this year, with audited profit before tax in the 12 months to December 31 last amounting to $3.4 million.
Source: The Jewish Business News
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