Interactive
UK – William Hill acquires Grand Parade
By Phil - 3 August 2016
William Hill has acquired Grand Parade Limited, the betting and gaming digital solutions company for £13.6m in cash and shares.
Grand Parade is an award-winning software house that creates apps, websites and e-commerce platforms for the sports betting, gaming and media industries. Established in 2007, it has around 200 developers and creatives based in Bermondsey, London and Krakow, Poland.
Philip Bowcock, Interim CEO of William Hill, commented: “Bringing the Grand Parade team into William Hill will rapidly ramp up the scale of our development team by backfilling existing resource gaps and also enhance our creative capabilities. This enables us to capitalise on the potential of our Trafalgar front-end platform by accelerating our product development and also to support the work with OpenBet to build our new back-end platform.”
Under the terms of the acquisition and as partial consideration, William Hill will issue 495,048 new Ordinary Shares of 10p each to Grand Parade (the Consideration Shares). The shares will rank pari passu with the existing ordinary shares of the company.
