Greentube flexes M&A muscles again with majority stake purchase in Alteatec
Supplier makes move for Austrian firm as CEO and COO to take on management roles at newly acquired company
Greentube has acquired a majority share of fellow supplier Alteatec as it looks to expand its product offering.
Under the remit of the deal, Greentube Austria will acquire a majority stake in the Maltese company, allowing Greentube to use Alteatec’s tech in its offering.
Alteatec boasts live dealer streaming, voiceover tech and its flagship management system, Olympus One.
Greentube will look to combine the existing Alteatec technology with its own solutions to provide “360-degree solutions” for its operator partners.
Additionally, Greentube CEO Thomas Graf and chief operating officer Georg Gubo will become managing directors (MD) of Alteatec, joining current MD Christian Sael.
Graf, Greentube CEO, said: “I am delighted to start 2023 in such momentous fashion. Alteatec is a market leader in igaming technology, and being able to utilise its talented and experienced team is going to be game changing for Greentube going forward.”
Sael, Alteatec MD, commented: “Greentube is a company that needs no introduction, so to become part of that storied brand truly is an honour.
“We’re all incredibly excited about this partnership and we can’t wait to get to work, delivering all the services we’re recognised for in order to help the company grow.”
The move to acquire a majority share in Alteatec follows Greentube’s joint venture with Flamingocatz, which saw the firm grab a 40% share in the startup.