Ainsworth Game Technology Limited (ASX:AGI)
has entered into a binding agreement to acquire 100 percent of the equity of US based privately-held Nova Technologies LLC.
The agreement has been made on a debt free basis for a purchase price of US$38 million to be paid in cash on completion.
AGI CEO Danny Gladstone said the acquisition demonstrates the company’s continued focus on growth in the key North American market.
The transaction is targeted for closing in early Q1 of calendar 2016, subject to necessary regulatory approvals.
Ainsworth Game Technology recorded a net profit of $70.35 million at 30 June 2015.