Piomo acquires majority stake in Microgame

Italian gaming supplier Microgame is under new ownership following the sale of a majority stake in the company to investment firm Piomo.

The transaction involves the sale of the 91.7 per cent shareholding held by private equity firms Monitor Clipper Partners and TPG Growth, which have now exited the business.

Microgame is the leading gaming platform provider in Italy serving more than 50 online operators and will continue to be led by chief executive Marco Castaldo.

“The entry of Piomo as majority shareholder marks the beginning of a new phase of growth in our project,” Castaldo said of the deal. “The new shareholder represents a guarantee not only for the company, but above all for our customers who will benefit from the strength and renewed investment capacity of their provider.

“I wish to thank our historical stakeholders, Monitor Clipper Partners and TPG Growth, who have contributed so much to the development of the company for the past decade.”