Greentube acquires software specialist Ineor
Greentube flexes M&A muscles again with move for Slovenia-based firm
Greentube, the digital gaming and entertainment arm of NOVOMATIC, has announced it has acquired software development company Ineor.
Slovenia-based Ineor is a computer programming business which primarily focuses on the development of gaming software.
Having worked together for more than 10 years, in the areas of online gaming and sports betting, the deal saw Vienna-based Greentube snap up 80% of Ineor’s shares.
The focus of the acquisition is to integrate the developer’s critical software capabilities and resources for Greentube worldwide.
The deal represents further movement in the M&A space for Greentube after announcing last week that it was taking a majority stake in Alteatec and following its acquisition of San Francisco-based Present Creative in October of last year.
The firm has also entered into a JV with US-based gaming studio Flamingocatz in December 2022.
Michael Bauer, CFO and chief growth officer at Greentube, said: “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.
“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 [Greentube’s new tech stack] 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.”
Dejan Spasovski, founder of Ineor, added: “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.”