Australia's Aristocrat Leisure says its unit divests mobile gaming business for $820 mln (updated)

Modern Times MTG AB

11/11/2024 22:40

(Adds deal details from paragraph 2)
       Nov 12 (Reuters) - Australia's Aristocrat Leisure
 ALL.AX  said on Tuesday the company's unit would sell its
Plarium mobile gaming business for an enterprise value of $820
million to Stockholm-listed Modern Times Group  MTGb.ST .
    The deal price consists of a fixed consideration of $620
million and a contingent consideration of up to $200 million,
subject to the achievement of certain financial targets over
calendar years 2025 to 2028.
        The gaming content and technology company said it
intends to deploy proceeds from the transaction to fund its
longer term growth strategy in line with its capital allocation
framework.
  
        Plarium contributed $615 million and $166 million to
Aristocrat unit Pixel United's revenue and segment profit,
respectively, in the fiscal year ended September 2024.
  

 (Reporting by Sherin Sunny in Bengaluru; Editing by Maju
Samuel)
 ((Sherin.Sunny@thomsonreuters.com))