Global Certified Watchdog eCOGRA Acquired by Private Investor Group Hanover
Published December 17, 2021 by Lee R
Hanover's acquisition of global regulation adaptation agency eCOGRA looks set to streamline iGaming.
A group of private investors has purchased renowned global iGaming certification agency eCOGRA to add private interests to global watchdog funding.
The Investor Group
Hanover Investors is the group acquiring the leading independent and internationally approved testing and certification agency.
Forging a Reputation
Through the eGAP set of standardized industry practices, eCOGRA has leveraged unique in-house player protection certification methodologies and expertise to adapt regulated markets, developing approved Independent Testing Laboratories to ensure uniform compliance across a diverse range of local jurisdiction regulations.
Range of Services
The comprehensive services eCOGRA offers include testing and inspection services; cybersecurity assessment; product certification and accredited ISO/IEC 27001 information security management certification.
Current Reach of eCOGRA
To date, eCOGRA has been approved and is used as a testing agency and certification body for over 30 jurisdictions across Europe, North and South America, and Asia.
Additional Role
The body has also on multiple occasions provided alternative dispute resolution to gambling operators licensed by Great Britain Gambling Commission and Malta Gaming Authority.
Hanover Leader Speaks
Of the private investor group's new acquisition strategy, Hanover Investors Chairman Matthew Peacock said:
“We believe the market and competitive dynamics that have supported eCOGRA’s growth and margin profile will continue, with further upside from expansion into markets around the world.”
Emerging Opportunity Stateside
Peacock identified the US as the key opportunity for further eCOGRA expansion after the national repeal of RAWA in 2018 opened the door for states to begin legislating and offering licensed online gaming.
Hanover's Strategy
As an organization, Hanover looks forward to “investing in and enhancing its commercial capabilities including through mergers and acquisitions.”
CEO of eCOGRA Speaks
Shaun McCallaghan, eCOGRA CEO, expressed organizational delight “to be coming into the Hanover Investors’ fold,” lauding Hanover's “recognized track record of unlocking value and catalyzing the
growth of other companies in its portfolio.”
Spurring Expansion
McCallaghan looked forward to “benefiting from the operational expertise that it will provide to our business” as eCOGRA continues to expand globally.
Terms
Investec Growth & Leveraged Finance provided debt financing to support the transaction for an undisclosed sum via Hanover Active Equity Fund II, which elevates Mr. Peacock to the chair of eCOGRA’s board.
Outlook
How this deal plays out will provide unseen insights into how private investment can drive more equitable industry practices.
