Exclusive: Mfuse acquired by gaming supplier Nektan
Deal for mobile sportsbook specialist follows Nektan's £5m fundraising round
Gibraltar-based online casino, skill and lottery games developer Nektan has acquired mobile gaming firm Mfuse for an undisclosed sum, eGaming Review has learned.
Nektan, which has mobile game distribution deals in place with the likes of William Hill, Norsk Tipping and Scientific Games, completed the deal this week after concluding a £5m funding round.
The acquisition, which had been under discussion for almost four months, will see all 50 Mfuse employees including senior management remain in place at the firm’s London office.
Nektan, whose most successful products include online slot games and scratch cards, said it had recognised the need to grow its production and engineering capability, and identified Mfuse as an “ideal fit” to aid its expansion.
It said the acquisition creates the egaming industry’s “largest independent creator and distributor” of multi-channel device agnostic gambling games.
Gary Shaw, CEO at Nektan, said of today’s announcement: “We are thrilled to be welcoming the talented and capable Mfuse team to Nektan. They will be a perfect complement 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,” Shaw said.
Mfuse chief executive Geoff Read added he was excited to be joining Nektan and said they would be “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,” he said.
Mfuse, which was one of the first entrants into the mobile supplier market, announced a headcount reduction last month after losing a number of high profile clients.
A number of licensees recently ended deals with the supplier, and Read told eGR at the time that there had been “clear shift by the industry to bring mobile sports betting services in-house” over the past year.
Gibraltar-licensed Betfred was among the more recent operators to do so, while former client Sportingbet also left after the joint takeover by William Hill and GVC, with the latter stating it would focus on proprietary software.