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Aristocrat to Strengthen Systems & Linked Progressive Offering With Acquisition(July 03, 2014)
SYDNEY, AUSTRALIA -- (Marketwired) -- 07/03/14 -- Aristocrat Leisure Ltd (ASX: ALL) today announced the acquisition of all material assets of Paltronics Inc. ("Paltronics"), including IP relating to product. Paltronics is a leading supplier of complimentary gaming products and systems based in Crystal Lake, Illinois.
Paltronics provides a range of value-added applications for in-game media windows and bonusing applications for EGMs, video poker machines and table games. The company is a market leader in progressive jackpots, with Paltronics jackpot controllers already deployed in Aristocrat's highly successful linked progressive products including Hyperlink and Xtreme Mystery. In North America, Paltronics provides a complementary product offering to Aristocrat's OASIS 360 systems portfolio, with digital media, and venue-wide progressive bonusing products.
In Australia, New Zealand and throughout Asia, Aristocrat will maintain the relationship with the independently-owned Paltronics Australasia Pty Limited, which has acted as the exclusive distributor for Paltronics products in the regions.
This acquisition will further strengthen Aristocrat's OASIS 360 systems offer in North America, while delivering incremental product synergies, access to new technologies and product features, cost savings and integration benefits. This deal will also secure Aristocrat's access to key technology underpinning the company's exciting new generation of linked progressive products, while protecting existing multi-site progressive technology infrastructure and opening up further innovation opportunities in the jackpot segment.
CEO and Managing Director of Aristocrat, Jamie Odell, said, "This is a compelling acquisition that will deliver significant value across key strategic segments, particularly our leading U.S. casino systems business and in the fast-growing linked progressive and jackpot markets.
"This acquisition is another demonstration of Aristocrat's readiness to make strategic and measured investments behind our core value drivers, consistent with our growth plans and our focus on delivering value for shareholders," Mr. Odell concluded.
"The acquisition of these assets will help Aristocrat further strengthen our outstanding Oasis 360 offering to our valued partners. This acquisition creates an even more fully rounded system with the best technologies combined with the best service of any system, anywhere, and gives us speed to market advantages as well as the ability to provide industry with future innovations," said Rich Schneider, Aristocrat Chief Product Officer.
Aristocrat was advised by Armstrong Teasdale.
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