Stride Gaming raises £27m towards £70.2m of proposed deals

Stride Gaming has raised £27m gross in a placing tied to its £70.2m acquisitions of Tarco Ltd's assets, and the entire issued share capitals of Netboost Media Ltd and 8Ball Games Ltd.

The placing comprised 12m shares at 225p each. The acquisitions require shareholder approval.

It was paying £40.2m for the Tarco Assets and Netboost Media, and a further £30.0m for the entire share capital of 8Ball.

"The acquisitions augment the company's vision to become the global market leader in the soft gaming vertical of the online gaming industry," said Stride Gaming.

They were in line with its strategy to maximise shareholder value by achieving growth through organic and acquisitive means.