The transaction will be completed imminently and is expected to be accretive to NetEnt’s EPS in 2020. NetEnt’s income for the third quarter of 2019 will include approximately SEK 55m (approximately €5.1m) of transaction- and financing-related costs. This implies a maximum enterprise value of £223m (approximately €248m), corresponding to an enterprise value multiple of approximately 12 times current year EBITDA. In addition to the initial purchase consideration, a remaining amount of maximum £23m (approximately €25m) may become payable in 2022 on an earn-out basis, subject to Red Tiger’s financial performance over the coming two years, according to the press statement. NetEnt is paying an initial consideration of approximately £197m (approximately €219m) for 100% of the shares of Red Tiger. The acquisition is financed primarily through new debt facilities provided by Danske Bank and Nordea. NetEnt has signed an agreement to purchase Red Tiger Gaming Ltd in an all-cash deal with an initial enterprise value of £200m (approximately €222m) plus a possible additional amount of £23m (approximately €25m) in 2022, according to a press statement sent to Business Malta. Last Updated on Thursday, 5 September, 2019 at 4:05 pm by Christian Keszthelyi

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