Benzinga | Jan 11, 2022 12:31PM EST

Everi To Acquire Certain Assets Of Australia-Based Atlas Gaming For Undisclosed Sum

* Everi Holdings Inc (NYSE:EVRI) has agreed to acquire certain strategic assets, including game development technology and intellectual property of Atlas Gaming Pty Ltd and Atlas Gaming Technologies Pty Ltd (collectively, Atlas), for an undisclosed sum.

* Atlas is an Australia-based developer and provider of proprietary gaming content and products. Atlas' development and engineering team members will join Everi as part of the deal.

* The acquisition will complement Everi's existing game development studios and portfolio of games.

* Everi expects the acquisition to close within the next 60 days.

* "We expect to leverage the Atlas development team and purchased assets to provide more original content for our current customer base while creating an opportunity to further penetrate the markets Atlas has historically served, including Australia," said Dean Ehrlich, Everi's EVP and Games Business Leader.

* Everi plans to fund the acquisition from existing cash on hand. It held $215.6 million in cash and equivalents as of September 30, 2021.

* Price Action: EVRI shares are trading higher by 3.24% at $20.74 on the last check Tuesday.