Hydra Industries Acquisitions Takes On Inspired Gaming

Published Friday, July 15, 2016 - Online-Casinos.com
Hydra Industries Acquisitions Takes On Inspired Gaming

The online gambling industry has been experiencing mergers and acquisitions since the very first internet gambling websites started coming online in the middle of the 1990's. A recent press release has revealed that Inspired Gaming, a world leader in server-based gaming technology has agreed to be sold to Hydra Industries Acquisition Corp.

New York based Hydra Industries Acquisition Corp., which is a special purpose acquisition company, announced that it has entered into a definitive agreement to acquire London based Inspired Gaming Group and its affiliates from funds managed by Vitruvian Partners LLP which is a London headquartered private equity firm, and its co-investors.

Hydra's CEO Lorne Weil Lorne Weil commented, "We have been searching for a compelling business that utilizes our skill set to drive growth.  We are excited to have the opportunity to partner with Luke and his team as we work together to grow the digital business through increased focus and the deployment of new technology and content." Weil added, "We look forward to not only growing Inspired's business, but also using it as a platform for potential opportunistic acquisitions of synergistic businesses across a number of geographies.  We believe the combination of Inspired's management team and our experience in utilizing technology and content to drive revenue growth in gaming markets makes us well-positioned to enhance value for our shareholders."

Inspired's current CEO Luke Alvarez also commented, "We are excited to be partnering with Lorne Weil and Hydra, while continuing our strong relationship with Vitruvian.  Lorne's history in the gaming industry and Hydra's access to the public capital markets are the perfect combination to take Inspired to the next level. Our ambition with Inspired has always been to build a truly scaled and global leader in gaming technology, which we believe is transitioning rapidly to an all-digital environment.  Our visions are aligned, and the Inspired team is looking forward to working with Hydra to drive value through organic and strategic growth."

 

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