(Reuters) -Australia’s Aristocrat Leisure said on Tuesday the company’s unit would sell its Plarium mobile gaming business for an enterprise value of $820 million to Stockholm-listed Modern Times Group.
The deal price consists of a fixed consideration of $620 million and a contingent consideration of up to $200 million, subject to the achievement of certain financial targets over calendar years 2025 to 2028.
The gaming content and technology company said it intends to deploy proceeds from the transaction to fund its longer term growth strategy in line with its capital allocation framework.
Plarium contributed $615 million and $166 million to Aristocrat unit Pixel United’s revenue and segment profit, respectively, in the fiscal year ended September 2024.
(Reporting by Sherin Sunny in Bengaluru; Editing by Maju Samuel)
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