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Aus gaming company acquired

Aus gaming company acquired

David Friedlander, King & wood Mallesons

Two firms have advised on a global company’s acquisition of 53 per cent of Ainsworth Game Technology.

Firms: King & Wood Mallesons (Novomatic); Marque Lawyers (Ainsworth)

Deal: Novomatic acquired 53 per cent of Ainsworth Game Technology from Leonard H Ainsworth.

Value: Confidential

Area: M&A

Key players: The KWM team was led by partners Patrick Gunning, Paul Schroder and David Friedlander, who were supported by solicitor Michael Ting and law graduate Michael Power.

Deal significance: Novomatic was established in 1985 by owner and founder Professor Johann F Graf, and is now one of the largest game technology companies in the world.

Headquartered in Austria, Novomatic has operations on a global scale with leading market positions in Europe and Latin America.

Novomatic has acquired 53 per cent of Australian gaming company Ainsworth Game Technology from its the founder and chairman Leonard H Ainsworth.

The completion of the acquisition is subject to shareholder approval and regulatory conditions.

KWM partner David Friedlander (pictured) said: “We are delighted to have worked with Novomatic on this significant deal and are happy to have worked alongside Mr Ainsworth, who is an Australian business icon.”

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