U.S.-based casino equipment supplier Gaming Partners International (GPI) had a successful second quarter this year. Its net income grew to $2.5 million and its revenue increased by 51.6% to $24.7 million. That made GPI more valuable and it took advantage of its position to make a deal.

The company is putting the final touches on an acquisition that will see it be handed over completely to Angel Holdings GK, a Japanese firm that makes and supplies card games and playing cards for the retail and gaming markets. In the deal, Angel will purchase 100% of the company for cash and it will then be absorbed by an Angel subsidiary in the U.S., AGL Nevada Corp, to which Angel holds 100% of the stake. Following the acquisition, GPI’s brand identity will be kept intact.

Angel is going to pay $13.75 per share for the all-cash deal. With 7.96 GPI shares outstanding, the agreement will see $109.5 million change hands.

According to Angel, “The merger agreement provides for a go-shop provision under which, subject to certain limitations and conditions contained in the merger agreement, GPIC and its board of directors may actively solicit, receive, evaluate and potentially enter into negotiations with parties that offer alternative proposals to the proposed merger transaction until February 2, 2019.”