Microgaming, an iGaming juggernaut, has signed a deal to sell its well-known Quickfire business to a rapidly-emerging company, Games Global Limited. The transaction will involve a comprehensive game library, including the most popular progressive jackpots in the industry. If there are no further obstacles regarding regulatory approvals, the purchase should go through in Q2 2022. The newly-founded enterprise looks to influence the market rapidly, acquiring the popular business from a world-leading company. It would like to establish a front-running position in the market sooner rather than later.
The agreement includes the acquisition of distribution rights to numerous exclusive releases from Microgaming. Games Global is to take control of the expansive customer database, containing over 900 respected gaming brands. The purchase doesn’t exclude Microgaming from the Quickfire business entirely, as it will still supply its prominent customers with relevant solutions. However, it will also focus on other activities, like developing sports betting technology.
New Contender Is Born
If the transaction transpires as planned, the new company will quickly become a contender, accessing multiple markets instantly. The Quickfire business encompasses operating twenty-five studios with more than 3,000 different games, progressive jackpot slots included. Moreover, distribution facilities consist of about 1,000 brands and 260 respectable customers. The transaction will introduce significant changes in the industry concerning control and ownership.
Microgaming allows the new contender to rise rapidly and establish a front-running market position right away. The agreement will involve 1,100 employees dispersed across five continents. The purchase has been on the horizon for quite some time, so shareholders and partners have time to prepare for the new situation properly. The company has unveiled that John Coleman is about to step down from the CEO position, with Andrew Clucas, the COO, set to replace him.
The enterprise says these new developments won’t disturb its world-leading position and steady growth in other aspects of the business.
A Plethora of New Opportunities
Games Global is a newly-founded company that has quickly established its ambitions. Set up in 2021 and backed by private capital, it will focus on content development and distribution across regulated jurisdictions. The company CEO, Walter Bugno, has said his enterprise plans to be a refreshing addition to the industry. Its new, thrilling content developed in-house will enter the market soon and stand its ground among the giants. The vibrant gaming community will profit from an ambitious contender that is here to stay. The latest iGaming force wants to deliver the best solutions in the sector, elevating the customer experience to the top level.
Additionally, John Coleman, CEO at Microgaming, has stated the agreement means many new possibilities for both enterprises. Games Global is to overtake the Quickfire business, while Microgaming will expand its activities to other services. The main business will still be in progress, with plenty of new operations running in the background. Both companies will look to bolster their businesses through the new opportunities that are to arise soon.