Gaming certification lab BMM Testlabs is being acquired by US private investment firm The Visualize Group.
The acquisition is subject to regulatory approvals and will see BMM president and CEO Martin Storm retain a significant stake in the business, which he will continue to lead.
“For 44 years, BMM has dedicated itself to becoming the premier service provider and partner to gaming regulators, suppliers, and operators, ensuring that regulated gaming is conducted safely, transparently, and compliantly,” said Storm. “It’s a privilege to contribute to this journey and witness the achievement of our ambitious goals.
“Partnering with Visualize marks an exciting new chapter, as together we will drive growth for BMM and seize the immense opportunities within the evolving gaming market.”
As part of the acquisition, Visualize will implement a broad-based employee ownership program to allow BMM employees the opportunity to participate in Visualize’s value creation plan for the business, which includes several pre-identified organic and inorganic growth initiatives.
“As thematic investors, we strive to invest in exceptional businesses and management teams providing mission-critical services in growing markets,” said Melvin Ike, managing partner at Visualize. “BMM exemplifies this. Our team has closely studied the rapid global expansion of regulated gaming markets, and we believe this trajectory will continue.
“As new jurisdictions open around the world, the need for safe and compliant gaming continues to rise,” he added. “With its global footprint, track record of technical leadership, and trusted reputation in the market, we believe BMM is the best-positioned regulatory technology platform to capitalize on the market opportunity.”
Headquartered in Las Vegas, BMM provides testing, inspection, compliance, and certification (TICC) services to gaming product suppliers in regulated markets across six continents.
The financial terms of the transaction have not been disclosed.