Pragmatic Play bought by private investment group

Investment firm IBID Group has acquired online casino game provider Pragmatic Play for an undisclosed sum, and said it plans to develop the firm into one of the leading B2B digital gaming suppliers.

Malta-based Pragmatic Play provides mobile and desktop casino games to the egaming sector and employs 70 people.

IBID said it intended to develop the supplier through strategic partnerships with first class licensed-content providers and would bolster the senior management team with additional senior level hires from land-based gaming product providers.

The investment firm also said it would increase investment in business development and marketing activities, particularly in new geographies and to leverage its network in order to expedite the growth of the company.

David Barzilay, CEO of the IBID Group said the acquisition would strengthen its position in the online gaming sector.

“The acquisition of Pragmatic Play is in line with IBID’s strategy of acquiring companies that enable us to control the whole gaming supply chain from payments and content providers to operations and B2C marketing,” said Barzilay.

“We believe that we have the right team and expertise to help Pragmatic Play unlock its growth potential and realise value,” he added. “We look forward to working alongside the company’s highly talented team, and to help accelerate its development into a leading provider of digital gaming.”