11/27/2012 : ARISTOCRAT ACQUIRES SOCIAL GAMING FIRM
Focus on social gaming market accelerates through strategic acquisition
Aristocrat Leisure Ltd has strengthened its push into the online social casino market with the announcement of the acquisition of social gaming firm Product Madness Inc. for an undisclosed consideration.
San Francisco and London-based Product Madness Inc. is listed amongst the top five operators in the social casino slot genre on Facebook.
The acquisition will strengthen Aristocrat’s online gaming presence by bringing the company a top tier social casino operator and a best of breed social gaming platform which will allow the firm to offer its casino customers new and innovative forms of content through a robust social gaming platform, while also gaining a strategic foothold in the social casino market.
Chief executive officer and Managing Director, Jamie Odell said: "“The Product Madness platform will allow our customers to meaningfully enhance that player experience. Together with our recently announced acquisition of an internet gaming system and remote game server, Aristocrat is making strategic and measured investments that position us for a future in which online channels will be key to our growth”.
Aristocrat recently acquired the GameAccount nLive platform
Under the terms of the deal, Aristocrat has acquired the entire Product Madness business, including management and staff.
Product Madness co-founders, Lior Shiff and Jose Brotons, who will continue to lead the business, said in a joint statement: “Joining the Aristocrat team is a significant milestone for us. The combination of Aristocrat’s game library with our powerful social technologies and know-how will allow us to create an exciting player experience with extensive reach, pushing our collective presence and traction in the online social gaming market to a whole new level."