Apollo Funds to take IGT Gaming, Everi private in $6.3 billion deal

(Reuters) -Private equity firm Apollo Funds will take International Game Technology's gaming and digital business and Everi Holdings private in an all-cash deal that values the combined business at $6.3 billion, the companies said on Friday.

Shares of IGT jumped 20%, while casino platform provider Everi rose 40% in early trading.

The deal is the latest sign of a resurgence in the private equity space following a period of dormancy due to high interest rates that had hindered debt financing for leveraged buyouts.

IGT had said in February it would split its lottery unit from its gaming businesses, which would be merged with Everi to form a separate entity valued at $6.2 billion, including debt.

By Nathan Gomes.

Full story at Yahoo News.