The long-awaited acquisition of Octavian International by eBet appears to be off.
In a press release last month, Octavian announced that “alternatives to the proposed acquisition of Octavian by eBet are being explored.”
Octavian cited a change in the capital-raising environment as one reason for the change in plans, and did not rule out the acquisition going forward at some point in the future.
An eBet release stated to the Australian stock exchange presented similar wording.
Hans Zeidler, Octavian COO, stressed that the change in plans would have no affect on Octavian plans.
Said Zeidler, “Irrespective of the outcome of the proposed merger with eBet, Octavian will continue its global expansion plans with potential acquisitions and mergers on its own.”
Zeidler added that Octavian expects to make a number of further announcements over the coming weeks.
A second release by Octavian, following almost immediately, announced the acquisition of Las Vegas-based lottery specialist Gaming Solutions International. GSI owner and president, Mark Hutchinson, will join the Octavian team “to spearhead the company’s continued growth in lottery systems.”