Microgaming has agreed to sell its Quickfire distribution business and online games portfolio to Games Global Limited.
The sale has been agreed in principle and is subject to Games Global obtaining certain regulatory approvals. It is expected to be completed in the second quarter of 2022.
Games Global will acquire the international distribution rights to Microgaming‘s exclusive gaming content and inherit its customer base of over 900 gaming brands. Microgaming will continue to provide certain customers with its gaming platform and will focus on developing its sports betting technology.
A privately-funded company, Games Global is led by CEO Walter Bugno, formerly of IGT and Lottomatica, and CFO Tim Mickley, formerly of SafeCharge and Playtech.
“This is an exciting agreement that has been in the works for some time and will provide new growth and opportunities for both Microgaming and Games Global,” said Microgaming CEO John Coleman. “We are announcing it now to provide sufficient notice and clarity to our partners and stakeholders.
“Games Global will acquire the games distribution and IP business previously known as Quickfire, and Microgaming will continue to support its traditional core business, while increasing its reach with the addition of new businesses and managed services.”
Microgaming also recently announced that Coleman will step down as CEO on December 31, 2021, to be replaced by current COO Andrew Clucas.