June 22nd, 2009 by Arjan Olsder Posted in Companies & M&A | No Comments »
Following a strategic relationship of about two years between both companies, IGT has announced that it acquired Million-2-1. As a result, IGT announced restructuring plans as well.
Chris Sheffield, CEO of Million-2-1 will be the new GM for IGT's remote gaming business. Chris will also remain responsible for the business of Million-2-1.
Robert White commented: "IGT-UK is delighted to announce this acquisition, which, in conjunction with the recently announced Cyberview acquisition, marks a significant step forward in our strategy to develop new markets and new routes to market for our market-leading game content.
Chris Sheffield added: "We are tremendously excited at joining such a successful and innovative international business. This is a "dream come true deal" for our business and will allow real focus on developing and marketing new products for the internet and mobile phone, using the powerful combination of new technologies plus great gaming concepts from both IGT-UK and Million-2-1. Million-2-1 has received tremendous support from its funders in Manchester and London and I would like to thank them for their support.
Robert White summarised: "We have enjoyed a successful relationship with Million-2-1 over the past two years and the time is now right for us to join forces to capitalise on the exciting growth opportunities in remote gaming markets. I look forward to working with Chris Sheffield and his team over the coming years to build a strong and successful remote gaming business".
Next to their new Million-2-1 business, IGT will also integrate another company into their structure called Wagerworks.the UK division of WagerWorks will take responsibility for the sale and distribution of Barcrest Group game content in remote gaming markets (interactive digital television, mobile gaming and internet gaming markets); and IGT game content in mobile gaming markets, developed utilising the Million-2-1 mobile gaming platform.
Million-2-1 will continue to focus on interactive services for media organisations and land-based retailers, using mobile solutions to deliver new revenue streams. This includes prize competitions, mobile marketing campaigns and lotteries for the UK and international markets.
Robert White, Vice President, IGT-UK said, “This restructure streamlines our current sales and distribution process and enables us to offer an integrated remote gaming solution to our partners through one business relationship. It is also consistent with our game development strategy of offering great game content across multiple channels, including mobile and internet. By developing new branded content and continuing to access the best games from land-based environments I am confident we can further strengthen our games portfolio and our position as a leading content supplier.”
