Greentube acquires 80% stake in software developement specialist Ineor

Greentube, NOVOMATIC's interactive gaming division, has acquired an 80% majority stake in Slovenia-based software development specialist Ineor. The completed deal has the strategic objective of acquiring and integrating critical software development capabilities and resources for the benefit of the entire Greentube group.

The acquisition also secures specialized know-how within Ineor, a long-term technology partner of Greentube, in online gaming and sports betting.

With its base in Ljubljana, Ineor is active in the field of computer programming, specializing in the development of gaming software. The company supplies advanced software development services and innovative digital solutions for various multinational organizations, notes Greentube.

We are thrilled to announce that Greentube has made another significant move in the merger & acquisition space with the acquisition of international software development specialist Ineor!

Click here to read more about this strategic decision: https://t.co/nzRpxcgI4W pic.twitter.com/0ZrqX1HTHo

— Greentube GmbH (@_Greentube) January 26, 2023

Michael Bauer, CFO/CGO at Greentube, said: "This acquisition is fantastic 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 and made other significant moves in the M&A space, we are well-positioned to accelerate our growth throughout 2023 across regulated markets worldwide," he added.

Michael Bauer

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

According to Spasovski, Greentube uplifted Ineor to become "a world-leading gaming software development company," always staying "at least a step ahead and delivering on time, on budget, and with zero bugs."

"We are excited to have become a part of the Greentube family through this acquisition, which will allow us to continue to power one of the online gaming world’s biggest companies by providing amazing solutions for all operators and players globally," he concluded. 

The latest acquisition follows three other recent deals that have strengthened Greentube’s technological and creative capabilities. The firm has acquired a 65% stake in Alteatec, boosting its Casino Management System and platform technology while also entering a joint venture with Flamingocatz to aid the creation of new content for North American markets.

Those deals followed the acquisition of Present Creative, a US-based development studio with a track record of creating content for the iGaming and iLottery sectors. Greentube has also marked a new chapter in its history this year by launching Greentube Mynt, a new technology stack for producing and supplying games.

Greentube Mynt comprises several modules with a state-of-the-art Remote Gaming Server (RGS) at its heart. "It is the foundation for a future-proofed, complete games entertainment solution that provides operators with a next-level player engagement and retention tool," the company noted.