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Stride Gaming Acquires InfoApps

Stride Gaming Acquires InfoApps

Written by: Emilija Zivulovic on 03/08/2015 08:35

Stride Gaming, the multi-branded online bingo-led operator, has recently announced the acquisition of InfiApps, an internationally-focused mobile social gaming company. The bingo operator is ready to enter the social media gaming arena, having both the company for US$39.2mln. InfoApps is already a profitable company and SG predicts that the acquisition would immediately enhance its own earnings.

 

The Acquisition will provide the Stride Gaming group with an entry into the social gaming segment of online gaming, with users based internationally, in particular in the United States of America, Canada and Australia. The acquisition will combine Stride Gaming group's bingo-led expertise with InfiApps' social gaming expertise, both of which are complementary offerings to each other, Stride said.

 

Eitan Boyd, Chief Executive of Stride Gaming, commented:

 

“I am extremely pleased by the Acquisition of InfiApps. With revenue in the US social gaming industry alone forecast to exceed $12.3 billion in 2017, this deal provides us with an opportunity to enter into the rapidly growing mobile social gaming space and will further advance and bolster our growing position in the online gaming sector.

 

The addition of InfiApps widens our current portfolio of products and brands and will significantly enhance and diversify our player offering internationally, as well as provide access to new users and new geographies generating significant operational leverage.

 

The acquisition is in line with our strategic objective of expansion through acquisitions, complementing our strong organic growth, and also affords Stride Gaming a platform in which to take our online bingo product, over time, into the social gaming space.

 

This Acquisition, coupled with our strong current trading, as previously reported, leaves the Board to view the prospects for the full year and the future with a high degree of confidence.”

 

Ronen Kalmanson, Chief Executive of InfiApps, commented:

 

“I am delighted that InfiApps is joining the Stride Gaming family. The coupling of our social gaming platform with their gaming operational expertise will allow for an even better player experience and contribute to continued growth of the Company.”

 

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