IBID Group Acquires Pragmatic PlayPublished July 25, 2016 by Florin P
Pragmatic Play is the latest Internet-based company to be acquired by IBID Group.
IBID is an internet business investment development company dwelling on the acquisition of mainly Internet-based ventures. They have a keen eye for companies that show long-term potential and this explains their most recent move. The investment group recently acquired Pragmatic Play, a fast growing provider of digital casino games for desktops and mobile devices. With more than 150 slots developed in-house, they caught the eye of IBID and joined their portfolio of elite companies.
An Important Milestone for Pragmatic Play
The software developer enjoyed a meteoric rise and now its evolution enters a new stage. In the wake of Pragmatic Play receiving a Class 4 License by the Maltese authorities, they are able to handle gaming licensing to their clients. Under the guidance of IBID Group and using their vast resources, Pragmatic Play can grow into a leading provider of digital gaming content. The senior management team will be bolstered by the appointment of people with a vast experience in this line of work.
Pragmatic Play shows a lot of potential but on its own, its growth possibilities were been limited. In early 2016, they entered into a content distribution partnership with SlotsMillion. Just as the name suggests, this online casino caters mostly to fans of video slots and is an innovator in the line of Virtual Reality games. This move was followed by an equally important one last month, when they signed a deal with iSoftBet, another leading software developer.
IBID Group Consolidates Its Position
IBID has diversified its portfolio, but remains focused on Internet-based companies. Pragmatic Play promises to be an important pillar of their portfolio, and a catalyst for further growth. CEO David Barzilay expects this acquisition to further consolidate the company’s position in the highly competitive industry of online gambling. They plan on working together with the existing team at Pragmatic Play to advance both companies and keep shareholders happy.