International Game Technology today announced plans to expand in the Internet gambling industry by purchasing Entraction Holding AB of Stockholm, Sweden, for about $115 million.
The Nevada-based slot machine maker said Entraction operates one of the world's largest, legal online poker networks and is one of the leading suppliers of online gaming products and services.
"The successful acquisition of Entraction will enhance IGT's ability to grow its position within the rapidly growing interactive gaming space,'' IGT said in a statement. "The combination is anticipated to provide Entraction with the global scale and reach to partner with gaming operators and land based casinos around the world.''
"It strengthens our interactive portfolio by adding poker, bingo, casino and sports betting. This combination will drive enhanced value for our global customers and partners,'' IGT CEO Patti Hart said in the statement.