A merger that has been in the works for almost 4 months now was finally completed on Friday with the stockholders of Gaming Partners International (GPI) agreeing to the merger with Angel Holdings. This fully completed the merger which was first reported by our site on November 29 of last year.

After GPI reported a net profit of over $2.5 million in the second quarter of last year, it was announced shortly afterwards then an agreement had been reached between Angel Holdings and GPI to merge the two companies. The increase in revenue led to an increase in value for GPI, which gave them a more solid position in relation to the merger deal.

According to the terms of the deal, Angel was to pay $13.75 per share, with all of that being paid in cash. The total cost of purchase to acquire the shares would be over $110 million, with all of it being paid immediately.

The merger seemed like a common-sense decision. Angel is the manufacturer and supplier of cards and card games both in the gaming industry as well as in retail markets across the globe. GPI is the manufacturer and supplier of casino table game equipment that is licensed to casinos across the globe. That a playing card manufacturer would merge with a card table game manufacturer seemed like a no-brainer.