Amaya Gaming is growing again, making their second acquisition in two weeks, today they have announced an agreement has been signed to acquire Ongame Network, a B2B online poker network, from bwin.party digital entertainment plc. Amaya has agreed to acquire Ongame for a cash consideration of €15.0 million on a cash-free and debt-free basis, which will be funded through its existing cash reserves. Additional contingent consideration of up to €10.0 million will become payable by Amaya Gaming if there is regulated online gaming in the United States within five years of completion of the acquisition. The exact amount of the contingent consideration will depend upon the extent of the regulation based upon the number of states that regulate and the total population covered.
Ongame is one of the world’s largest B2B poker providers. The global network includes 25 of the e-gaming industry’s strongest brands that are owned by a total of 19 operators in regulated jurisdictions. Ongame also operates regional networks in France and Italy. Ongame offers both operators and their players a wide variety of cash games and tournaments to choose from.