Greentube acquires 80% of Ineor's shares

Novomatic’s Greentube brand has acquired software development company Ineor, which has seen the former buy 80% of the latter’s shares.

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Ineor is a Slovenia-based business that previously had a long-term deal with Greentube and specialises in online gambling and sports betting.

Michael Bauer, CFO/CGO at Greentube, said: “This acquisition is a fantastic one as we continue to bolster our technology platform in what will be a very big year for us strategically. Ineor has been a highly valued partner for a number of years, and it’s great to harness its resources in-house.

“Having recently launched Greentube Mynt, as well as making other significant moves in the M&A space, we are well-positioned to accelerate our growth throughout 2023 across regulated markets worldwide.”

Meanwhile, Ineor Founder Dejan Spasovski added: “For over a decade, Ineor regularly delivered Greentube and Novomatic’s key strategic solutions – together building our amazing, role model partnership – and now achieving this important milestone for us all." 

The news comes shortly after Greentube acquired a controlling share in iGaming management system Alteatec.

The deal specifically sees Greentube Austria acquire a majority stake in the Malta-based IT company, providing it access to Alteatec’s Olympus One platform technology. 

Furthermore, Greentube will be able to use Alteatec’s live dealer streaming and voiceover technology as part of the deal. 

Greentube has bought stakes in several companies in recent months, also acquiring a 40% stake in Flamingocatz – a game developer established in 2022, to bring disruptive slot titles to the Americas through innovative mathematics.

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