Elys Acquires Software Engineering and IT Development Firm Engage IT Services, S.r.l.
NEW YORK, Feb. 02, 2023 (Globe NEWSWIRE) — Elys Activity Technological know-how, Corp. (“Elys” or the “Company”) (Nasdaq: ELYS)(BER:3UW), an interactive gaming and sporting activities betting technologies organization, today announced that it has concluded the acquisition of a quality software program engineering and IT improvement organization, Have interaction IT Expert services, S.r.l. (“Engage”). The agency presents finest-in-course progress of sportsbook and gaming purposes for cloud, net, and cell platforms, user expertise enhancement, tailored organization intelligence, electronic transformation consulting, conclude-to-end venture and item administration, Microsoft answers, and other engineering and development tasks. The integration of the Interact crew within just our group will enormously enrich our in-home engineering capabilities and addresses the abundance of incoming enterprise, including the progress of our US product or service choices which incorporates retail alternatives and cell methods as very well as the enhancement of our worldwide digital gaming platform and world-wide cellular answers, when streamlining our present-day team engineering jobs.
On the same working day the Enterprise also acquired long-time period commitments of 6 critical IT, engineering, and hazard and venture administration personnel by way of the issuance of incentive shares vesting every month over a period of 3 years.
“With the acquisition of Interact we fulfill our strategy of producing a prominent in-property engineering foundation for the Team. Engage brings the ideal mix of engineering excellence, overlapping company tradition, and regional presence that we are self-confident will make a lasting optimistic impact on Elys, leveraging off their assets and years of encounter to increase our assistance choices and to improve our services to our clients and staff members,” mentioned Michele Ciavarella, Executive Chairman of Elys Match Engineering. “Prior to the acquisition of Interact, our world-wide group of strategists, designers, and technologists experienced labored almost solely with Interact to make highly effective electronic experiences for users and platforms that were being designed to aid quick enhancement and supply of custom-made sportsbook programs. We feel that, soon after the near collaboration that we have had with the Have interaction crew, that this acquisition was a pure development for Elys in its journey to develop into a top supplier of stop-to-conclusion sportsbook remedies for both equally B2B and B2C prospects.”
Launched in 2016 and centered in Italy, Interact employs 30 experts together with architects, developers and computer software engineers that focus in the style, implementation and management of SQL databases, agile and DevOps challenge management, and remedies based mostly on the Microsoft cloud system (Azure) and in the enhancement of .Web applications, principally focused on athletics betting and gaming programs. Have interaction has also offered agreement providers to Elys, participating in a vital job in the advancement of our Elys Gameboard sportsbook technologies and Player Account Management System (PAM), and has a deep knowledge base of Elys’ Gameboard architecture and at this time displays method masses to assure seamless performance of the Company’s slicing-edge sportsbook.
The deal is structured as an equity acquisition of 100% of the shares of Interact these types of that Engage will turn into a wholly owned subsidiary of Elys upon the terms and issue to the circumstances established forth in the Share Acquire Settlement (“Agreement”). The existing Engage and Elys leadership and administration team will keep on being in their present-day roles and their desire are aligned with that of our shareholders thanks to the equity nature of this transaction. Pursuant to the Agreement, Elys will situation approximately 3,018,462 shares of common stock (“Shares”), valued at €1.08 million, which obtain rate may perhaps be greater or lessened dependent on the net economical situation of Interact as identified by thanks diligence, on or prior to June 30, 2023. Subject matter to the repurchase option established forth in the Settlement, the Sellers will be restricted from disposing of the Shares for 36 months and the Business may perhaps repurchase the Shares issued for €1.08 million in money up to June 30, 2023.
About Elys Video game Technological know-how, Corp.
Elys Activity Know-how, Corp., is a B2B world gaming know-how corporation working in multiple countries around the world, with B2C on the internet and land-primarily based gaming operations in Italy. Elys gives its clientele a complete suite of leisure gaming solutions and companies, these types of as sports activities betting, e-sports activities, virtual athletics, on-line on line casino, poker, bingo, interactive online games and slots in Italy and has operations in 5 states as effectively as the District of Columbia in the U.S. sector. Elys’ eyesight is to turn out to be a worldwide chief in the gaming business through the development of groundbreaking and modern technological innovation.
The Enterprise gives wagering solutions, solutions online operators, casinos, retail betting institutions and franchise distribution networks. Extra details is out there on our company web-site at www.elysgame.com.
Investors may perhaps also discover us on Twitter @ELYS_gaming.
Ahead-On the lookout Statements
This push launch contains sure forward-seeking statements within just the which means of the safe harbor provisions of the Personal Securities Litigation Reform Act of 1995. These statements are identified by the use of the words and phrases “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and comparable expressions that are meant to determine ahead-wanting statements. These ahead-on the lookout statements are primarily based on management’s anticipations and assumptions as of the date of this push launch and are issue to a selection of challenges and uncertainties, quite a few of which are tricky to forecast that could bring about genuine outcomes to vary materially from existing anticipations and assumptions from all those set forth or implied by any forward-on the lookout statements. While the Business believes these ahead-looking statements are based mostly on affordable assumptions, it can give no assurance that any of its anticipations will be attained. Essential components that could trigger true benefits to vary materially from present expectations contain, between other folks, the Company’s means to satisfy our strategy of developing a prominent in-household engineering base, the transaction generating a long lasting optimistic affect on Elys, the Company’s capacity to broaden our services offerings and to boost our services to our prospects and personnel, for the acquisition to be a natural progression for Elys in its journey to become a top company of conclusion-to-end sportsbook answers for both equally B2B and B2C customers, the period and scope of the COVID-19 outbreak all over the world, which include the effects to condition and area economies, and the chance components described in the Firm’s Once-a-year Report on Form 10-K for the 12 months ended December 31, 2021 and its subsequent filings with the U.S. Securities and Exchange Fee, which includes subsequent quarterly stories on Type 10-Q and latest stories on Kind 8-K. The facts in this launch is provided only as of the date of this release, and the Organization undertakes no obligation to update or revise publicly any forward-searching statements, whether as a result of new facts, future events or normally, just after the day on which the statements are produced or to mirror the incidence of unanticipated situations, except as required by regulation.
Elys Game Engineering, Corp.
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