Italian provider Microgame sold to private equity firm
Former owners Monitor Clipper Partners LP and TPG Growth ink agreement with investment company Piomo
Private investment firm Piomo has acquired a 91.7% stake in Italian igaming supplier Microgame.
Piomo secured an agreement with Microgame’s former owners, US private equity funds Monitor Clipper Partners LP and TPG Growth, for an undisclosed sum.
Under the remit of the agreement, Piomo will become the majority shareholder in the company while the two former owners will exit the shareholding structure entirely.
Microgame confirmed its senior leadership team would remain in place following the takeover and will continue to be led by CEO Marco Castaldo.
He will be supported by commercial director Francesca Artioli, CFO Luca Scuteri, head of product and marketing Maurizio Guerra and head of betting Gianluca Masone.
Castaldo said: “The entry of Piomo as majority shareholder marks the beginning of a new phase of growth in our project.
“The new shareholder represents a guarantee not only for the company, but above all for our customers who will benefit from the strength and renewed investment capacity of their provider.
“I wish to thank our historical stakeholders, Monitor Clipper Partners and TPG Growth, who have contributed so much to the development of the company for the past decade,” he added.
Microgame currently serves 14 licensed retail betting operators in Italy and more than 50 online operators.