International mobile gaming platform and content provider Nektan has just acquired full control of its subsidiary Nektan Marketing Services from Fred Done and Warren Jacobs.
Back in September 2015, London-based Nektan entered into a joint venture with Fred Done (Founder of Betfred) and Warren Jacobs (Managing Director of ActiveWin Media) with the launch of its digital marketing division, Nektan Marketing Services (NMS).
Now however, as part of the continued realignment of the business, Nektan has reached an agreement to buy out its joint venture partners in NMS for a consideration of £500,000 in cash. An initial payment of £250,000 will be made on completion of the Debt Fundraise and the balance of £100,000 payable on the 12 month anniversary of the initial payment.
As a result of the agreement, the put and call option between Nektan and its joint partners will fall away. According to the financial note released today, this strategic transaction gives Nektan the ability to take greater control of its players and marketing on behalf of its partners.