IGT has offered to acquire Swedish Internet gaming company

May 9, 2011 8:20 PM

Showing an interest in adding to its online gaming portfolio, International Game Technology (IGT) has made an offer to acquire a Swedish Internet gaming company for $115 million.

The company, Extraction Holding of Stockholm, provides online gaming such as poker, bingo and sports betting as well as Internet technology.

Extraction Holding management favors the sale and has recommended that the shareholders accept the offer of slightly more than $11 per share.

The acquisition, said IGT CEO Patti Hart, "strengthens our interactive portfolio by adding poker, bingo, casino and sports betting."