Ainsworth Game Technology Ltd. (ASX:AGI) entered into a binding agreement to acquire Nova Technologies, LLC for $38 million on November 17, 2015. Under the terms of transaction, $38 million will be paid on completion of transaction. Ainsworth Game advised that credit approval for a $64 million (AUD 90 million) secured facility had been received with the Australian and New Zealand Banking Group Limited will be utilized to fund the acquisition of Nova along with existing cash in hand. The price represents a multiple of approximately 8.1-8.5 times trailing twelve months EBITDA, depending upon the exact date of close.

The deal is subject to all necessary regulatory approvals and is expected to close in early quarter one of calendar 2016. The transaction is earnings accretive from day one. The currency is converted from www..oanda.com.

Ainsworth Game Technology Ltd. (ASX:AGI) completed the acquisition of Nova Technologies, LLC on January 14, 2016. All regulatory approvals are received.