JPJ Group Buys Gamesys For £490 Million

Jackpotjoy owner JPJ Group has announced that it has agreed a deal to acquire Gamesys for a fee estimated to be around £621 million.

Gamesys the bingo software developer among other gambling services is not selling certain brands to JPJ such as, Virgin Bet, Livescore sports data along with some other media services.

According to the report JPJ said the newly combined business would be known as Gamesys Group Plc and would qualify for the FTSE, news on the deal saw JPJ Group shares jump over 5%.

The financing for the deal will come from cash reserves, borrowing and from new share releasing.