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Hydra Industries Acquisition Corp. Has Acquired Inspired Gaming Group

Hydra

On 14th July, after months of negotiation in which OnePoint participated on behalf of Hydra Industries Acquisition Corp., a definitive agreement to acquire the London-based Inspired Gaming Group was publicly announced. The acquisition should strengthen OnePoint’s relationship with INGG, who is already a customer. The proposed transaction is expected to close in October 2016. Immediately after the closing, Hydra intends to change its name to Inspired Entertainment, Inc..

About Hydra Industries Acquisition Corp.

Hydra is a blank check company formed for the purpose of effecting a merger or other business combination with a target company.  Hydra was founded by gaming industry veteran Lorne Weil and raised $80 million on October 29, 2014 in its Initial Public Offering.  In addition, Macquarie Capital co-sponsored Hydra’s efforts to source acquisitions and provided a $20 millionforward equity commitment which, with Hydra’s existing cash in trust, will be used to fund the proposed transaction.

Additional information can be found at www.hydraspac.com.

About Inspired Gaming Group

Inspired is a global games technology company, supplying Virtual Sports, Mobile Gaming and server-based gaming systems with associated terminals and digital content to regulated betting and gaming operators around the world.  Inspired currently operates more than 25,000 digital gaming terminals and supplies its Virtual Sports products in more than 30,000 venues and on over 200 websites in 30 countries. Inspired employs over 800 employees in the UK and elsewhere, developing and operating digital games and networks.

Additional information can be found at www.inspiredgaminggroup.com

Source: http://www.prnewswire.com/news-releases/hydra-industries-acquisition-corp-enters-into-agreement-to-acquire-inspired-gaming-group-300298701.html.