Greentube acquires 80% stake in long-term partner Ineor

Novomatic’s iGaming division Greentube has continued its recent M&A spree with the acquisition of Slovenian iGaming software developer Ineor.

Greentube has acquired an 80 per cent majority stake in the Ljubljana-based supplier, a long-term technology partner of Greentube for online gaming and sports betting.

“This acquisition is a fantastic one as we continue to bolster our technology platform in what will be a very big year for us strategically,” said Greentube chief financial officer and chief games officer Michael Bauer. “Ineor has been a highly valued partner for a number of years and it’s great to be able to harness its resources in-house.

“Having recently launched Greentube Mynt as well as making other significant moves in the M&A space, we are well-positioned to accelerate our growth throughout 2023 across regulated markets worldwide.”

Ineor founder Dejan Spasovski said: “For over a decade, Ineor regularly delivered Greentube's and Novomatic’s key strategic solutions, together building our amazing, role model partnership – and now achieving this important milestone for us all.

“By constantly technically challenging us, Greentube uplifted Ineor to become a world leading gaming software development company, always staying at least a step ahead and delivering on time, on budget and with zero bugs.

“We are excited to have become a part of the Greentube family through this acquisition, which will allow us to continue to power one of the online gaming world’s biggest companies by providing amazing solutions for all operators and players globally.”

The latest acquisition follows on from three other deals that have strengthened Greentube’s technological and creative capabilities, including a 65 per cent stake in Alteatec, a joint venture with studio Flamingocatz, and the acquisition of Present Creative.