Shows & Panels
Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- American Readiness: Renewable Power and Efficiency Technologies
- Ask the CIO
- Building the Hybrid Cloud
- Connected Government: How to Build and Procure Network Services for the Future
- Continuing Diagnostics and Mitigation: Discussion of Progress and Next Steps
- Delivering the Digital Government Mission
- Federal Executive Forum
- Federal News Radio's National Cyber Security Awareness Month Special Panel Discussion
- Federal Tech Talk
- The Future of Government Data Centers
- The Future of IT: How CIOs Can Enable the Service-Oriented Enterprise
- Government Perspectives on Mobility and the Cloud
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Mitigating Insider Threats in Virtual & Cloud Environments
- Modern Mission Critical Series
- The New Generation of Database
- Reimagining the Next Generation of Government
- Targeting Advanced Threats: Proven Methods from Detection through Remediation
- Transformative Technology: Desktop Virtualization in Government
- The Truth About IT Opex and Software Defined Networking
- Air Traffic Management Transformation Report
- Cloud First Report
- General Dynamics IT Enterprise Center
- Gov Cloud Minute
- Government in Technology Series
- Homeland Security Cybersecurity Market Report
- National Cybersecurity Awareness Month
- Technology Insights
- The Cyber Security Report
- The Next Generation Cyber Security Experts
Shows & Panels
Scientific Games buying WMS for about $1.42B
Thursday - 1/31/2013, 7:47am EST
NEW YORK (AP) - Instant-win lottery ticket company Scientific Games is buying gaming equipment company WMS Industries Inc. for about $1.42 billion in order to broaden its product offerings.
Scientific Games Corp., which also makes video slot machines and other gaming systems, will pay $26 per WMS share. That's a 59 percent premium to the company's closing price of $16.37 on Wednesday.
Its stock jumped $8.93, or 54.6 percent, to $25.30 in premarket trading Thursday.
WMS, which is based in Waukegan, Ill., currently has about 54.6 million outstanding shares, according to FactSet.
The companies put the deal's total value at approximately $1.5 billion, including $85 million in debt.
"The acquisition of WMS is transformational for Scientific Games, enabling us to offer a complete portfolio of lottery and gaming products and services to both new and existing customers around the world," Scientific Games Chairman and CEO A. Lorne Weil said in a statement.
Scientific Games said that it will look for opportunities to cross-sell products to each companies' respective customers.
Scientific Games, based in New York, said the buyout is not subject to a financing condition and that it has committed financing.
Both companies' boards unanimously approved the deal, which still needs approval from WMS shareholders. The acquisition is expected to close by year's end.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)