UK bingo operator Stride Gaming plc (AIM: STR) has acquired Israeli mobile social gaming company InfiApps for $39.2 million. Under the terms of the deal, Stride Gaming will pay $21.2 million cash and a further $18 million according to financial milestone targets over the next two years.
Founded in 2012 and based in Netanya, InfiApps' flagship game is Slot Bonanza with 5.2 million downloads.
InfiApps CEO Ronen Kalmanson said, "The coupling of our social gaming platform with their gaming operational expertise will allow for an even better player experience and contribute to continued growth of the company."
Stride Gaming CEO Eitan Boyd said, "The addition of InfiApps widens our current portfolio of products and brands and will significantly enhance and diversify our player offering internationally, as well as provide access to new users and new geographies generating significant operational leverage."
In the deal, Stride Gaming was represented by Barnea & Co. partner and Internet department head Adv. Dr. Dotan Baruch and InfiApps was represented by Fischer Behar Chen Well Orion & Co partner Adv. Liat Halperin.
Published by Globes [online], Israel business news - www.globes-online.com - on August 1, 2015
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