Gaming technology provider Scientific Games has struck a deal to acquire Canadian rival DEQ Systems.
On Wednesday, Sci-Games announced that it had entered into a definitive agreement to acquire the Toronto-listed DEQ for C$0.38 per share. The deal, which requires the support of 2/3 of DEQ shareholders at a vote in late October or early November, is expected to close in Q4 2016 or Q1 2017.
The deal values DEQ at around C$27.2m (US $20.7m). In the 12-month period ending May 31, DEQ reported revenue of C$9.5m.
Roger Snow, Sci-Games senior VP of Table & Utility Products, said his company was eager to gain access to DEQ’s library of table games, table progressives and random bonusing systems.