King & Wood Mallesons (KWM) has acted for Novomatic on its acquisition of 53% of Ainsworth Game Technology from Leonard H Ainsworth, the founder and chairman of the Australian gaming company. The completion of the acquisition is subject to shareholder approval and regulatory conditions.

Established in 1985 by owner and founder, Professor Johann F. Graf, Novomatic is one of the largest game technology companies in the world. Headquartered in Austria, Novomatic has operations on a global scale with leading market positions in Europe and Latin America.

The King & Wood Mallesons team was led by partners Patrick Gunning, Paul Schroder and David Friedlander, who were supported by solicitor Michael Ting and law graduate Michael Power.

Commenting on the deal, partner David Friedlander said, “We are delighted to have worked with Novomatic on this significant deal and are happy to have worked alongside Mr Ainsworth, who is an Australian business icon.”

King & Wood Mallesons previously advised Mr Ainsworth on the listing of Ainsworth Game Technology in 2001 and on the listing of Mr Ainsworth’s previous company, Aristocrat Leisure. King & Wood Mallesons also has a long-standing relationship with Novomatic in Europe.