Tabcorp is to spend A$128m on buying Intecq, a technology solutions company that supplies gaming management systems and monitoring services to over 1,200 licensed venues, covering more than 70,000 electronic gaming machines in Australia.
Tabcorp Chief Executive David Attenborough said: “The acquisition of Intecq presents an exciting opportunity for Tabcorp to strengthen our our Tabcorp Gaming Solutions business. Intecq complements our Tabcorp gaming Solutions business providing increased scale and diversification of earnings. Intecq’s operational and geographic footprint provides an exciting platform for accelerated growth by expanding our product and service offering to both the Intecq and TGS customer base. INTECQ has a track record of innovation. We look forward to combining capabilities to strengthen our market-leading gaming and venue services offering.”
Tabcorp has 9,550 machines linked up the system.
It believes buying Intecq will generate earnings before interest, tax, depreciation and amortisation of $20m in the year after the integration of Intecq is completed. Intecq Executive Deputy Chairman Tony Toohey and Acting Chief Executive Officer and Chief Operating Officer, Peter Walford have agreed to remain with the business following completion of the acquisition.