EveryMatrix Software Limited has announced that it has made an offer to acquire all shares in Fantasma Games AB for SEK209.8 million (€18.5 million).

EveryMatrix, which has its head office in Sliema, Malta, is a B2B software provider for the iGaming industry. It is best known for its casino platform product, Casino Engine, though it has in recent years also started to produce casino games.

Fantasma is a games developer integrated with over 250 operators across 50 countries.

The deal would therefore “significantly strengthen EveryMatrix’s games output with the immediate addition of well-known titles,” said the acquiring firm, while noting that it would “unlock synergies between the companies.”

In the statement accompanying the announcement, EveryMatrix said: “Size matters when it comes to doing games distribution directly, outside the main games aggregators. More games gives more attention, easier sales, and better possibilities for strong account management. Joining the game portfolios of Fantasma and EveryMatrix thus lifts both companies and achieves the critical mass of games.”

EveryMatrix’s offer is over 20 per cent higher than the closing price of Fantasma’s shares, which are listed on the NASDAQ First North. It is also more than 27 per cent higher than the average of Fantasma shares over the last month, and more than 33 per cent more than the three-month average.

“For the shareholders of Fantasma, the offer presents a unique and attractive opportunity to realize the value represented by their shares into immediate and certain liquidity,” said EveryMatrix.

Shareholders holding a combined 50 per cent of Fantasma shares have already signalled their approval of the deal.