Rank Digital Holdings Limited acquired QSB Gaming Limited from management, private investors, Stride Gaming plc (AIM:STR) and others for €52 million on May 22, 2018. Under the terms of the acquisition, the total consideration is on a cash free and debt free basis and comprises of an initial consideration of €21 million and a further consideration equal to the EBITDA of QSB Gaming Group for the 12-month period ending December 31, 2018 (subject to certain adjustments), multiplied by 8.5, less the initial tranche of consideration. Further amounts of consideration shall also be paid if specified tax and commercial outcomes arise. The total consideration payable is capped at €52 million. Rank will fund the consideration from its own cash resources. For the year ended December 31, 2017, QSB and its subsidiaries generated revenue and EBIT of €10.4 million and €2.5 million respectively. All of the senior management will remain with the business following the acquisition. The transaction is EPS accretive. Rob Willis, Georgina Ball, Lauren Wood, Nyambura Kiarie, Robert Sartor, Sarah Wright, Lucinda Richardson, Matt Hanson, David Porras Cabellos, Blanca Escribano and Javier Torre de Silva of CMS acted as legal advisor for The Rank Group. CMS Albiñana & Suárez de Lezo, S.L.P. acted as the legal advisor for The Rank group. Rank Digital Holdings Limited completed the acquisition of QSB Gaming Limited from management, private investors, Stride Gaming plc (AIM:STR) and others on May 22, 2018.