Nektan acquires Mfuse to become cross-platform games provider20th June 2013 7:31 am GMT
Gibraltar-based online gaming provider Nektan has raised £5m following a successful private equity fund-raising placement, with the company using some of the proceeds to acquire mobile gaming technology provider Mfuse.
Nektan said that the strategic acquisition will enable the company to combine its patent pending game formats and product innovations, including its ‘sklots’ hybrid skill and chance game concepts, with Mfuse’s HTML5 mobile-focused application development.
Nektan CEO Gary Shaw said: “We are thrilled to be welcoming the talented and capable Mfuse team to Nektan. They will be a perfect compliment to our existing teams in Gibraltar and the USA.
“Together we will be able to fully realise the market opportunity to create and deliver industry-leading games content for mobile and touch devices.”
Nektan said that having signed a number of key mobile content distribution deals for leading operators such as William Hill, Scientific Games and Norsk Tipping, the company recognised that it needed to grow its production and engineering capability.
Mfuse was identified as an ideal fit, bringing mobile engineering skills, deep gaming sector expertise and strong senior management.
The company currently provides more than 30 mobile applications in 16 languages for a variety of online betting and gaming operators including the likes of Ladbrokes, Sportingbet, mybet, Betsson, and Betfred.
Mfuse CEO Geoff Read added: “We are excited to be joining Nektan and quickly adding value to their global content deals. With our combined expertise we will also be working on a new range of innovative product variants that I will look forward to announcing at a later date.”
Nektan has acquired the full issued share capital of Mfuse, which is based in London, for an undisclosed sum. The acquisition follows a successful £5m private equity fund-raise by Nektan.