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Betware Merging With NovoMatic
Monday November 11,2013 : BETWARE TO MERGE WITH NOVOMATIC
From investment reccie to acquisition
Novomatic AG, through its subsidiary Novo Lottery Solutions GmbH, has completed the sale of a 90 percent stake of Icelandic software firm Betware for an undisclosed consideration.
The remaining 10 percent will be retained by key Betware management.
Betware revealed it had put itself out there over a year ago in a bid to attract new Capital, however, it soon became apparent that a number of foreign entities were interested in a controlling stake.
The acquisition agreement signed with Novo Lottery Solutions last week completed the sales process which was carried out in collaboration with ScanCap in Stockholm.
Stephen Hrafnkelsson manager and one of the founders of Betware said: "By joining NOVO DELFIELD, a leading company in the gaming industry in Europe, it opens up new and unprecedented opportunities to sell the solutions Betware has developed in recent years. At the same time, this is a great achievement for the Icelandic software industry and Betware staff. It shows that foreign investors are interested in investing in this country if the right opportunities are available. We look forward to taking on new and exciting projects with NOVO DELFIELD Group."
"Our acquisition of Betware is a logical step that aims to enhance our competitiveness further", added Thomas Graf, head of technology development at NOVO DELFIELD. "The software Betware has developed is unique and offers customized solutions that suit both the small and big Lotteria which allows them without difficulty to combine products from more than one manufacturer. This gives us an advantage in a market where competition is ever increasing. I am confident that with the experience and ambition Hrafnkelsson Stephen and his management team have, we will take full advantage of the opportunities that we have."
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
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