Willkie acted as U.S. legal counsel to Inspired and the seller group in the transaction, which values Inspired at £200 million.
On July 16, Hydra Industries Acquisition Corp., a special purpose acquisition company, announced it had entered into a definitive agreement to acquire Inspired Gaming Group and its affiliates from funds managed by Vitruvian Partners LLP and its co-investors. Willkie acted as U.S. legal counsel to Inspired and Vitruvian. The transaction reflects a valuation for Inspired of £200 million (US$264 million), including indebtedness, but excluding transaction expenses as well as the impact of Hydra's sponsor shares and subject to certain closing adjustments.
Inspired is a global games technology company, supplying virtual sports, mobile gaming and server-based gaming systems with associated terminals and digital content to regulated betting and gaming operators around the world. It operates more than 25,000 digital gaming terminals and supplies its virtual sports products in more than 30,000 venues and on more than 200 websites in 30 countries.
The deal was handled by partner Manuel Miranda and associates Jacob Kleinman, Andrew Prodromos and Christina Castedo.