Malta-based iGaming operator and games provider Glitnor Group has called off its proposed acquisition of iGaming affiliate KaFe Rocks Group.
The two companies have mutually and amicably decided not to complete the transaction due to current market conditions.
As a result, KaFe Rocks and the Time2play.com brand will continue to be managed by their founding members and leadership team, with Glitnor remaining a significant shareholder in the business.
Both companies were keen to point out that the decision to call off the acquisition was unrelated to KaFe Rocks’ decision to part ways with CEO Simon Pilkington, which was announced earlier this month.
The acquisition would have seen Glitnor expand into the iGaming affiliate space, complementing its existing B2C business which includes the Lucky Casino and Happycasino online casino brands, as well as B2B business Swintt.