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Light & Wonder Inc. has completed a previously announced cash transaction to acquire a 17 percent stake in SciPlay, a digital games business it does not already own.

The purchase price represents a 14.7 percent premium to Light & Wonder’s May offer, and the company said the full integration of SciPlay will create a leaner organization with greater financial strength to accelerate its cross-platform strategy and improve shareholder returns.

Light & Wonder Completes Acquisition of SciPlay, Creating a Leaner Organization

Matt Wilson, president and CEO of Light & Wonder, said in a statement that SciPlay continues to deliver record results and exceptional market performance, and that the company is confident that they can build on their tremendous momentum.

He added that as a company, Light & Wonder and SciPlay will drive better collaboration between their talented teams to develop and deploy the most engaging games across their digital and land-based platforms and create a more seamless, best-in-class player experience.

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