AGTech completes Score Value acquisition
News on 9 Jan 2015
News on 9 Jan 2015
Silvercreek Technology Holdings, a subsidiary of Hong Kong-listed AGTech Holdings, has announced the completion of its acquisition of Score Value (see previous reports).
The move positions the group strongly to take advantage of the forthcoming opening up of the Chinese mobile lottery market, a company spokesman said Thursday.
Silvercreek paid HK$489.5 million ($63.1 million) for Score, a consideration which is subject to downward adjustments, the company notes. The price was executed in an initial payment of HK$189.5 million and a deferred consideration of HK$300 million.
Score Value is a research and development group which provides quality assurance and sales of handheld lottery sales equipment, along with the design of lottery games and systems. The company is currently seeking approval in China for the system and content of a mobile lottery game.
