NeoGames (NASDAQ: NGMS) soared in pre-market trading on Monday after the provider of end-to-end iLottery and iGaming solutions was acquired by Aristocrat Leisure, an entertainment and content creation company in an all-cash deal at for $29.50 per share. This transaction values NeoGames at $1.2 billion.
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The transaction price represents a premium of around 104% over the volume-weighted average price of NeoGames’ shares for the 3 months ending on May 12, 2023. The acquisition is expected to close over the next 12 months.
NGMS stock has gone up by more than 6% in the past year.
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