ONLINE GAMBLING GAMES DEVELOPER SOLD
Private equity firm IBID Group acquires Pragmatic Play.
The Malta-based online gambling games developer Pragmatic Play has been acquired for an undisclosed consideration by the Hong Kong and London-based private equity group IBID, which says it intends to grow the company into a leader in the business-to-business sector of the industry through key partnerships with other providers.
The new owner plans to bolster the current senior management team by recruiting and appointing experienced managers from providers who service the land casino industry.
IBIDs founder and chief executive David Barzilay said in a statement announcing the deal that Pragmatic Play has high growth potential and will develop good returns for his investors as it is expanded and improved.