04 Oct 2019
Investec advises Stride Gaming on takeover by Rank Group
Investec Corporate and Investment Banking (“Investec”) has advised Stride Gaming plc (“Stride”) on its sale to Rank Digital Holdings Limited (“Rank”), acting as Sole Financial Adviser, Nominated Adviser and Broker to Stride on the transaction.
Established in 2012, Stride is an online gaming company, focussed on the real-money bingo and casino verticals. Stride operates its own proprietary technology platform, as well as a selection of brands including Kitty Bingo and Lucky VIP Casino. Stride is UK-focused and is the third largest online bingo operator in the country.
The acquisition of Stride will accelerate the transformation of Rank and create one of the UK's leading online gaming businesses.
The offer, which at 151p per share valued Stride at approximately £115m, was announced on 31 May.
“Stride is a leading online gaming business with its own strong proprietary technology platform and well-respected management team”, commented Investec’s Ed Thomas. “The deal represents a very satisfactory outcome for Stride shareholders and gives Rank access to a substantial and highly complementary digital platform.”
Investec previously advised on the merger between GVC and Ladbrokes in 2018.
For more information, please contact:
Luke O’Mahony, Investec (Public Relations) - 020 7597 5261
Fatima Ismat, Lansons (PR agency for Investec CIB) - 020 7597 9709
Investec Corporate and Investment Banking
Investec CIB is a division of Investec Bank plc, an international corporate and investment bank working with growth-orientated companies, institutions and private equity funds. Our people set us apart – empowered, straightforward and invested in our clients’ long-term success. We provide capital solutions, advice and ideas, along with bespoke investment solutions and access to capital markets. Founded in 1974, The Investec Group has grown successfully through its client focussed approach and its ability to serve diverse and evolving financial needs.
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