Valetta, May 20, 2015: Gaming Innovation Group (GIG) and Optimizer invest (OPT) have signed a strategic partnership with the ambition to create a leading cloud services company for iGaming. The partnership will allow a further development of GIG’s iGamingCloud software platform and a ramp up of its rapidly expanding Cloud offering.
Optimizer Invest will acquire 10 percent of the shares in GIG\’s subsidiary iGamingCloud (iGC) for a consideration of EUR 1 million. The parties have a mutual right to convert the investment into NIO shares in 2017 or 2018 based on the relative performance of iGC compared to Nio/GIG in 2017 and the share price at that time. The transaction is expected to be completed early June 2015. The EUR 1 million will be allocated iGC to further scale the company.
“We see the partnership with Optimzer as a strong evidence of the significant industry interest in the iGaming Cloud platform and the position iGC is about to take in this growth market. Through this strategic partnership we will step up development and marketing efforts related to iGamingCloud”, says managing director Robin Reed of Gaming Innovation Group Optimizer Invest is a renowned industrial investor within the iGaming space and are currently the largest shareholder in operator BetIt Group and performance marketing firm Catena Media. The agreement will see Optimizer founders Andre Lavold, Henrik Peerson, and Mikael Harstad, contribute to the continued upscale and business development of iGC, through a consultancy agreement and with a place in the board of iGC.
Gaming Innovation Group (GIG) launched iGamingCloud (iGC) to the wider gaming industry in February, and have since signed its first external customer and picked up interest from more than 30 potential clients whom have showed interest in the use of the cloud based iGC services to enable and power their gaming operations.
In April GIG entered into an agreement worth EUR 300,000 for the first rolling 12 month with the first external user of the platform service, iGaming Cloud. GIG expects to sign between 5-10 clients on the iGC platform during 2015 Optimizer Invest has an outstanding track record, profound knowledge and vast network within the industry. By combining their knowledge, and assets, with the skillset and technology of GIG, iGC will have a unique platform for growth.
“Optimizer is very excited to partner with iGC and to contribute to this innovative SaaS platform,” said Andre Lavold, Partner and Co-Founder of Optimizer Invest.
”This product has the potential to be a real game changer for the wider community of the iGaming industry. Our partnership with iGC is consistent with our strategy of backing best-in-class managers and exceptional assets in the iGaming industry”, says Andre Lavold.
Nio entered into agreement to acquire Gaming Innovation Group in February this year to strengthen its iGaming position, capabilities and value creation potential. In addition to the platform services, iGaming Cloud, NIO/GIG are engaged in the marketing channel via Innovation Labs, and are a gaming operator through the sites betspin.com and guts.com.
For further information:
Robin Reed, Managing Director GIG,
+356 9999 0382
Kjetil Myrlid Aasen, CEO Nio
+47 9269 5005