07 March 2018
Carey Olsen advises LeoVegas on the purchase of online casino operator IPS
LeoVegas, Sweden's leading mobile gaming operator, has completed its acquisition of the assets of Intellectual Property & Software Limited (IPS) and other related assets from two further companies, including brands such as 21.co.uk, Slotboss, BetUK and UK Casino.
Corporate lawyers from leading offshore law firm Carey Olsen advised LeoVegas on the £65 million purchase of IPS and its associated brands – now collectively known as Rocket X – alongside UK lead counsel Baker McKenzie.
The Carey Olsen team was led by partner Annette Alexander, with assistance from senior associate Arya Hashemi and associate Felicity White. The firm advised on all Alderney elements of the acquisition, including corporate, regulatory, employment and contractual due diligence, as well as providing strategic input into the structuring of the acquisition.
Ms Alexander said: "It was fascinating to work on what is a significant transaction for LeoVegas and the continued development of its mobile and online gaming business. The e-gaming market is a fast-moving sector and deals of this nature are often complex in nature, so it's a testament to our specialist M&A knowledge as a firm that we were instructed to work on the transaction."
The acquisition further strengthens LeoVegas' presence in the UK and its position as a leading mobile gaming group. In a statement, LeoVegas recognised the effectiveness of Rocket X's digital and data-driven customer acquisition strategy.