Atlas Gaming Technologies, an Australian developer and gaming content provider, has reached an agreement with Everi, the global casino and financial technology supplier, for the sale of some of its strategic assets.
The two parties have not disclosed the financial terms of the agreement, but they confirmed that Everi will acquire game development technology from Atlas Gaming, along with intellectual property.
Everi also revealed that it expects to close within the next couple of months, adding that the assets acquired from Atlas Gaming would complement its existing game development infrastructure along with the portfolio of games. Ultimately, Everi is looking to expand into new markets all around the world, and this acquisition is a step in that direction.
The deal between the two companies will also see some of the members of the development and engineering team at Atlas Gaming join Everi in order to help implement the technologies into the acquiring company. Atlas Gaming Technologies has an experience of over 20 years in the gaming industry.
Everi stated that the funds for the acquisition come from existing cash, with no loans or other instruments required. Dean Ehrlich, Executive Vice President of Everi, said that the company’s leadership is looking forward “to Atlas’ game developers and engineers bringing a global perspective” that would help Everi implement a more robust product roadmap and support its growth strategy.