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Everi To Acquire Strategic Assets Of Mobile-First, Guest Engagement Technology Innovator, Venuetize

Oct 04, 2022about 3 years ago

Acquiring Company

Everi Holdings

Acquired Company

Mobile-First

gambling & casinosSoftware

Description

Everi Holdings Inc. (NYSE: EVRI) ("Everi" or the "Company"), a premier provider of land-based and digital casino gaming content and products, financial technology and player loyalty solutions, announced today that it will expand its addressable market beyond the casino gaming industry for the first time and broaden its range of mobile capabilities to its established gaming customers through an agreement to acquire certain strategic assets of Venuetize, Inc. ("Venuetize"). Venuetize is a privately owned innovator of mobile-first technologies that provide an advanced guest engagement and m-commerce platform for the sports, entertainment and hospitality industries. Venuetize collaborates with its clients and partners with their venue ecosystem to elevate the guest experience and strengthen their mobile channel engagement, leading to incremental revenue opportunities.

Company Information

Company

Everi Holdings

Location

7250 South Tenaya Way

About

Everi Holdings Inc. is a leading provider of gaming and financial technology solutions, offering casino management systems, slot machines, gaming technology, and financial technology services. The company serves customers in the global gaming, financial, and technology markets, providing innovative products and services to enhance the gaming experience and improve operational efficiencies.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed