![]() ![]() Kindred has been invested in Relax Gaming since 2013 and was prior to the transaction the largest owner with 33.4 per cent of the outstanding shares. 240 full-time employees with four main hubs in Malta, Estonia, Sweden and Serbia. The company was founded in 2010 and has today c. Relax Gaming is a market leading B2B iGaming software supplier that designs and develops online casino games, supported by an open distribution platform for third party aggregation as well as proprietary poker and bingo products. The transaction will be financed through Kindred's existing cash and credit facilities. In addition to the initial consideration, the maximum earn-out payments amount to EUR 113 million and may become payable in 20, subject to Relax Gaming achieving certain earnings thresholds. ![]() Kindred will pay an initial consideration, settled in cash upon completion, of approximately EUR 80 million (on a cash and debt free basis). The transaction values the company at up to EUR 320 million on a cash and debt free basis (Enterprise value) and a total value of the outstanding shares of approximately EUR 295 million (Equity value). Kindred Group plc (Kindred) has signed an agreement to acquire the remaining 66.6 per cent of the outstanding shares in Relax Gaming. The acquisition accelerates Kindred's strategy to increase its focus on product and customer experience by strengthening Kindred's product control and product differentiation capabilities. Kindred has been invested in Relax Gaming since 2013 and the transaction will allow Kindred to acquire the remaining 66.6 per cent of the outstanding shares. VALLETTA, Malta, J/PRNewswire/ - Kindred Group has signed an agreement to acquire the remaining outstanding shares in Relax Gaming, a leading and rapidly growing B2B iGaming supplier, at an implied valuation of up to EUR 320 million for 100 per cent of the shares on a cash free and debt free basis.
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