Intralot Group has announced the stock purchase agreement to acquire the remaining 65 per cent of gaming technology company Bit8.
With this move Intralot Group becomes full shareholder of the company.
Bit8 Founder Angelo Dalli, will remain in the Board of Directors of Bit8 as per the company. Intralot Group invested in Bit8 for the first time in July 2015, purchased a 35% stake in the business.
Antonios Kerastaris, Chief Executive of Intralot Group, stated:
“I am very excited to complete the acquisition of Bit8 by Intralot at the end of a two-year joint product development partnership.”
“PULSE has become a major pillar of our Digital Transformation strategy for Lottery Modernisation and a strategic asset in our product portfolio.”
“Bit8 becomes a full member of the Intralot family, carrying enormous promise for future growth and product development by playing an important role in the successful deployment of our ‘All About the Player’ product design strategy.”
Angelo Dalli, added: “I am thrilled for the success of our cooperation with Intralot and today’s development that promises to bring a new cycle of growth, portfolio enhancement, and international recognition for Bit8.”
“Like every founder who has worked hard for the creation of a successful company I am proud about the company’s evolution and look forward to our future cooperation to reach new targets.”
