Leading game provider and developer Microgaming has announced that it’s agreed to sell its Quickfire distribution business and games to the newly-founded Games Global Limited.
The sale, which is subject to Games Global receiving certain regulatory approvals, is expected to complete in Q2 2022. Under the agreement, the firm will acquire the international distribution rights to Microgaming’s Quickfire gaming content and inherit the studio’s customer base of over 900 casino operators.
Following the sale, Microgaming has confirmed that it will continue to supply customers with its turnkey games platform and focus on the development and licensing of its sports betting technology.
The newly-formed Games Global Limited is a private capital-backed company led by CEO Waler Bugno, who previously worked for IGT and Lottomatica, and CFO Tim Mickley.
John Coleman, the CEO at Microgaming, said in a statement: “This is an exciting deal that has been in the making for some time and which will provide new growth and opportunity for both Microgaming and Games Global.
“We are announcing it now to provide sufficient notice and clarity for our partners and stakeholders. Games Global will acquire the game IP and distribution business previously known as Quickfire, and Microgaming will continue to support its core traditional business, while increasing its reach with the addition of new business and managed services.”
The news comes shortly after Microgaming announced its casino game roadmap for November 2021, and it comes as CEO John Coleman announced his departure from the company after 14 years.
Coleman, who was appointed CEO in June 2018 and served as CFO beforehand, will step down as CEO on December 31, 2021, and will be replaced by current COO Andrew Clucas. Coleman will remain within the Microgaming group in a non-executive role.