It has been confirmed that Clarion Events Ltd are going to take over iGaming Business for a sum of £19.7 million. The company is set to acquire Electric Word’s 70% as well as 5.1% of Michale Caselli’s shares. Caselli is known as the founder of iGaming Business and he’ll keep the remaining share of the firm.
It was revealed that the management team of the company would remain the same, whereas there is a plan to move the premises in southwest London in 2016. Reportedly, Clarion stated that combining its own gaming portfolio with iGaming Business would further the vision of both companies “to provide a comprehensive events and information platform for the sector.”
Clarion’s managing director, Kate Chambers, commented on the deal saying that they were really excited about “cementing” their relationship with iGaming Business. She further explained that the acquisition would enable the company to “combine the strengths within the two groups.”
Michael Caselli, on the other hand, said that both companies were trying to facilitate business “through information and interaction in the gaming industry.” Thus, he concluded that Clarion’s portfolio was perfectly complementing iGaming Business’. According to Caselli, the deal would benefit both companies’ clientele as well as it would contribute toward the “continued development of the industry.”
Another iGaming Business representative, Alex Pratt, recognised Clarion as a leading event organiser in the gaming industry. Additionally, he explained that the company’s expertise would be very helpful to iGaming Business when it comes to improving “customer engagement” across their events.
Even the CEO of Electric Word, Julian Turner, commented on the deal saying he was confident that iGaming Business would “continue to thrive” under Clarion’s ownership.
The transaction is scheduled to complete on 4th of January, 2016.