Stride Gaming plc (AIM:STR) has conditionally agreed to acquire 8Ball Games Limited from Neil McGuinness and Jeremy Bygrave for £34.2 million on July 29, 2016. Under the terms of the transaction, initial consideration of £12 million will be paid on completion and earn-out consideration of up to £18 million will be paid in a mix of cash and stock with the first £3 million to be satisfied in shares and the remainder being 40% cash: 60% shares. In a related transaction, Stride Gaming agreed to acquire certain assets of Tarco and Netboost Media. The cash part of the transaction will be funded from the placing of Stride Gaming shares raising gross proceeds of £27 million and Stride Gaming's cash resources. For the last twelve months ended May 31, 2016, 8Ball had revenue of £9.7 million, EBIT of £1.7 million and profit after tax of £1.3 million. The operations director of the 8Ball business will be employed in the enlarged Group for at least two years post completion. The acquisitions and the placing are each conditional upon, amongst other things, the passing of the resolutions at the general meeting. However, the acquisitions are also conditional on a number of other matters (including the receipt of various contractual change of control consents), admission of the placing shares to trading on AIM becoming effective and are, therefore, expected to complete after admission. The independent Directors of Stride Gaming plc unanimously recommend that shareholders vote in favour of the resolutions. The transaction is expected to close on or before August 31, 2016. The acquisitions are expected to be accretive in the first full year of ownership, prior to any synergies. The transaction has been approved by Stride Gaming plc on August 23, 2016. Bruce Garrow, Emma Gabriel and Richard Andrews of Canaccord Genuity Limited acted as financial advisors, Alistair de Kare-Silver, Felicity Winkles of Yellow Jersey acted as public relations advisor, Capita Asset Services acted as registrar, Berwin Leighton Paisner acted as legal advisor to Stride Gaming. Stephanie Brigg, Partner Keith Lassman, Charlotte Whitworth, Alex Meloy, Leigh Sayliss, Lydia Christie and Astrid Stanley of Howard Kennedy and Barnea & Co acted as legal advisors for Stride Gaming plc. David Shapton of Akur Capital acted as financial advisor to 8Ball Games Limited Stride Gaming plc (AIM:STR) completed the acquisition of 8Ball Games Limited from Neil McGuinness and Jeremy Bygrave on August 31, 2016.