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JADESTONE MANAGEMENT BUYOUT FINALISED
12/20/11 : New era for online gaming developer
Swedish online gaming developer Jadestone is now 100 percent owned and managed by its current management team following a management buy-out from former parent company, the Åland based gaming operator Paf.
Jadestone's corporate structure including staff, gaming platforms, intellectual properties and other resources currently employed in its development and operation of online casino and multiplayer gaming solutions for operators is covered under the agreement.
"Our relationship with Paf has been invaluable for our growth into an established player on the global online gaming arena," said Robert Henrysson, chief executive officer of Jadestone. "However, the synergies have diminished as Paf concentrates on the consumer business while Jadestone's focus is on B2B gaming platforms.
“Now that we part ways, it's with excitement but also with great appreciation of our long partnership. We certainly expect that Jadestone will continue to be a key provider of popular games to Paf."
"It's a rare luxury for management teams to get a chance like this," said Tobias Nissen, business development director for Jadestone. "We're clearly leaving a safe harbor, but for true entrepreneurs like us, nothing beats steering your own ship. We hope and believe that the independence and flexibility now gained will enable us to serve and delight both current and new clients even better."
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