Investment firm IBID Group has completed the acquisition of the entire issued share capital of Pragmatic Play, a B2B provider of digital casino games with offices in Malta and the Isle of Man.
IBID said in a statement that it plans to develop Pragmatic Play into a leading B2B digital gaming provider through strategic partnerships with first-class licensed-content providers, and through bolstering the senior management team with recruits from leading land-based gaming product providers.
David Barzilay, CEO of the IBID Group, said: “This acquisition will further advance and strengthen our growing position in the online gaming sector.
“The addition of Pragmatic Play widens our current portfolio of companies with high growth potential and that we feel will generate significant returns for our long-term investors.
“We believe that we have the right team and expertise to help Pragmatic Play unlock its growth potential and realise value. We look forward to working alongside the company’s highly talented team, and to help accelerate its development into a leading provider of digital gaming,” said Barzilay.
“Our strategy remains focused on undertaking selective strategic acquisitions that enhance our existing portfolio and where we feel we can create value and deliver meaningful returns to our shareholders.”
