Greentube Reaches Agreement To Acquire Majority Stake in Ineor

Greentube, the expanding Digital Gaming and Entertainment division of Novomatic, has announced that it has made another major move as it acquired a majority stake in Ineor, a software development company.

The deal has seen Greentube purchase 80 percent of the shares of Ineor, a company which is based in Slovenia. The acquisition allows Greentube to boost its software development capabilities, benefiting the entire worldwide group.

The agreement came shortly after Greentube made another move on the mergers and acquisitions front as it acquired a controlling stake in Alteatec, an iGaming management system and platform provider.

As for the acquisition of Ineor, it is a company that Greentube had known very well as the two firms had been in a technology partnership for years when it came to online gaming and sports betting.

Ineor is active in computer programming, with a clear specialization in the development of gaming software. The Slovenia-based company supplies software development services for a wide range of multinational companies.

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Speaking about the deal to acquire Ineor, Michael Bauer, Chief Financial Officer at Greentube, described it as a “fantastic” acquisition, which will “continue to bolster” the company’s technology platform.

Michael Bauer also revealed that 2023 “will be a very big year” for Greentube “strategically” as the company is looking to accelerate its growth across regulated markets. The Greentube executive also mentioned that Ineor had been “a highly valued partner for a number of years” and said that he was looking forward to “harnessing its resources in-house.”

Dejan Spasovski, founder of Ineor, confirmed that his company had been working with Greentube and Novomatic for over a decade and described the acquisition as “an important milestone for us all.” The Ineor founder also acknowledged that Greentube had been “constantly technically challenging” his team, making the company’s products better and better.

“We are excited to have become a part of the Greentube family through this acquisition,” Dejan Spasovski added, “which will allow us to continue to power one of the online gaming world’s biggest companies by providing amazing solutions for all operators and players globally.”

SOURCE:“Greentube enhances software development capabilities with Ineor acquisition“, greentube.com, January 25, 2023.