Bally to buy SHFL for $1.3 billion

It has been reported that Bally Technologies has made an offer to acquire SHFL for $1.3 billion, which represents $23.25 per share for SHFL.

The transaction, which was unanimously approved by both the Bally and  SHFL Boards of Directors, combines two best-in-class, highly  complementary and customer-centric gaming technology companies with a  shared commitment to innovation to create a company offering the gaming  industry’s most diversified suite of products.

“Both Bally and SHFL have long histories of proven innovation, excellent  customer service and successfully anticipating and adapting to changes  within our industry, which makes bringing our two companies together a  great strategic fit,” said Ramesh Srinivasan, Bally’s President and  Chief Executive Officer. “The transformational acquisition of SHFL –  which joins two high-caliber, talented and creative teams – will further  enhance our ability to deliver future growth and serve our customers.  SHFL’s intellectual property, renowned brands and industry-leading suite  of diverse, high-performance products will enable us to offer an  unparalleled offering of gaming products and services, which – when  combined with our content, technology, operational capabilities and  respective geographic footprints – will provide the most comprehensive  product portfolio offered around the world.”