The British software company Inspired Gaming has agreed a 74.4 million pound ($113.5 million) takeover by a private equity firm in the UK, after eight months of talks.
The gaming giant which has customers including Gala Bingo, Betfred and Paddy Power, has a 37 percent share of the UK bingo market and 20 percent share of the casino slots and e-table markets. Over the last three years it has become one of the leading players in the supply of electronic bingo solutions. In recent years the use of the hand held tablets to play bingo, interval bingo and slots has become increasingly popular and Inspired Gaming has been at the heart of this.


Vitruvian Partners has offered 60 pence in cash per share for Inspired Gaming which represents a 21 percent premium to the closing price at the close of business on  April 30th. The board of Inspired Gaming has recommended that shareholders except the current offer. Julian Paul a non-executive director of the company said in a statement: "We believe that the acquisition fairly reflects both Inspired's future growth prospects and the challenges of executing its business plan as a publicly listed company,".

Shareholders would be offered shares in the new company as an alternative to a cash. Shares closed at 49.5 pence on Friday, valuing the company at 61.4 million pounds.