Austria – Greentube enhances software development capabilities with Ineor acquisitionBy Phil - 26 January 2023
Greentube, the NOVOMATIC Digital Gaming and Entertainment division, has made another significant move in the M&A space with the acquisition of international software development specialist Ineor.
The latest completed deal, which has seen Greentube buying 80 per cent of the shares in Slovenia-based Ineor d.o.o., has the strategic objective of acquiring and integrating critical software development capabilities and resources for the benefit of the entire Greentube group worldwide.
The acquisition also secures specialised know-how from within Ineor, a long-term technology partner of Greentube’s, in the areas of online gaming and sports betting.
With its base in Ljubljana, Ineor is active in the field of computer programming, specialising in the development of gaming software. The company currently supplies advanced software development services and breakthrough key innovative digital solutions for a wide range of multinational organisations.
The latest acquisition follows on from three other deals that have strengthened Greentube’s technological and creative capabilities. Greentube recently acquired a 65% stake in Alteatec, boosting its Casino Management System and platform technology, while also entering a joint venture with emerging studio Flamingocatz, to aid the creation of new, exciting content for North American markets.
Those agreements followed on from the acquisition of Present Creative, a US-based development studio with a proven track record of creating content for the iGaming and iLottery sectors.
Greentube has also marked a new chapter in the future of igaming this year by launching Greentube Mynt, its revolutionary new technology stack for producing and supplying games. With a state-of-the-art Remote Gaming Server (RGS) at its heart, Greentube Mynt is the foundation for a future-proofed, complete games entertainment solution that provides operators with a next-level player engagement and retention tool.
Michael Bauer, CFO/CGO at Greentube, said: “This acquisition is a fantastic one as we continue to bolster our technology platform in what will be a very big year for us strategically. Ineor has been a highly valued partner for a number of years and it’s great to be able to harness its resources in-house.
“Having recently launched Greentube Mynt as well as making other significant moves in the M&A space, we are well-positioned to accelerate our growth throughout 2023 across regulated markets worldwide.”
Dejan Spasovski, founder of Ineor, said: “For over a decade, Ineor regularly delivered Greentube’s and NOVOMATIC’s key strategic solutions, together building our amazing, role model partnership – and now achieving this important milestone for us all.
“By constantly technically challenging us, Greentube uplifted Ineor to become a world leading gaming software development company, always staying at least a step ahead and delivering on time, on budget and with zero bugs.
“We are excited to have become a part of the Greentube family through this acquisition, which will allow us to continue to power one of the online gaming world’s biggest companies by providing amazing solutions for all operators and players globally.”