IBID Group, an investment firm focused on buying and investing in internet companies with high growth potential, has bought Pragmatic Play Ltd., a B2B provider of digital casino games.
Pragmatic Play is one of the fastest growing providers of mobile and desktop digital casino games for the online gaming industry. It develops unique in-house content of over 150 proven slot and casino games for mobile and desktop. The company is based in Malta and in the Isle of Man and employs 70 people. Pragmatic Play was acquired for an undisclosed sum.
This acquisition is in line with IBID’s strategy of making additional acquisitions in the online gaming industry, specifically in B2C operations, in which IBID can integrate Pragmatic Play’s product and offering into the wider Group and portfolio of B2C operations.
IBID intends to develop the award-winning Pragmatic Play into one of the leading B2B digital gaming providers through strategic partnerships with first class licensed-content providers, and through bolstering the senior management team with additional senior level hires from the leading land based gaming product providers. IBID intends to increase its investment in business development and marketing activities, particularly in new geographies and to leverage its network in order to expedite the growth of the company.