Microgaming has announced plans to sell its Quickfire business to the newly founded supplier Games Global.
The newly formed supplier Games Global was founded earlier this year. Games Global is a private capital-backed company led by CEO Walter Bugno, formerly of IGT and Lottomatica, and CFO Tim Mickley, previously of SafeCharge and Playtech.
MicroGaming to sell Quickfire
Yesterday, Microgaming announced it had agreed in principle the sale of its Quickfire distribution business and portfolio of online games, including progressive jackpot titles, to Games Global Limited.
The sale, which is subject to receiving certain regulatory approvals, is expected to complete in the second quarter of 2022.
The agreement will see Game Global acquire international distribution rights to Microgaming’s exclusive gaming content, and as well as its customer base comprising more than 900 global gaming brands.
Once the sale is complete, Microgaming will continue to supply certain customers with its turnkey games platform, as well as focus on the further development and licensing of its sports betting technology.
Upon completion of the deal, Games Global’s portfolio will include 25 studios and the supplier will have a library of roughly 3,000 games, operating across Europe, North and South America, South Africa, and Oceania.
John Coleman, CEO at Microgaming, said: “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.”
Bugno said: “We are seeing a very vibrant gaming market at present across the world, with many new regulated markets coming online,” said Bugno. “The creation of a new large-scale independent supply chain that Games Global will be has not been witnessed for many years.”
Bugno added, “We are extremely excited about the opportunities ahead and will work tirelessly to achieve the significant opportunities in front of us.”
Coleman to step down as Microgaming CEO
The announcement that Microgaming will sell its Quickfire operation off to Games Global came alongside the news that Coleman will step down as Microgaming’s CEO and be replaced by COO Andrew Clucas.
Coleman is set to step down from his role and be replaced by Clucas on 31 December 2021.
Coleman was appointed CEO of Microgaming in June 2018, having served as CFO for nearly 14 years. As CEO, Coleman has driven Microgaming’s strategy and vision, and diversified its product offering. He will remain within the group in a non-executive role.
Meanwhile, Clucas joined Microgaming in 2009 following a successful career in the Royal Air Force. He headed up various operational areas of the business, including business development and sales, before being appointed COO in January 2018.
Speaking on his appointment, Clucas said: “John has been an outstanding leader and ambassador of the business for almost two decades, and I cannot praise him highly enough for his many achievements and contributions. I am delighted to be picking up the mantle from him – being appointed CEO of Microgaming is an incredible honour, and I intend to lead the business with very the same passion and commitment.”