R Franco Group takes controlling stake in Mediatech
Land-based gaming supplier R Franco Group has acquired a controlling stake in platform provider Mediatech Solutions, in a move that will lead to the creation of a new omni-channel services company.
Under the agreement, the financials details of which were undisclosed, R Franco will integrate Mediatech’s IRIS platform and its 1,500 games.
As part of the deal, the Mediatech management team will remain in place at the firm’s headquarters in Madrid, Spain.
In addition, Mediatech will gain additional investment that will be used to boost its international operations, which will now include offices in Belgrade, Serbia, as well as in Kuala Lumpur, Malaysia.
R Franco, which established its own digital division 18 months ago, said the deal will enable the new, combined company to become a “key player” on the world stage.
“The acquisition of Mediatech provides us with a market-leading online platform and the opportunity to further expand the group’s digital footprint,” R Franco chief executive Pedro Melendo said.
“The Spanish market will be transforming due to regulatory changes in the next few years and Franco’s ambition is to remain market leaders.”
Jessica Ordovas, founder and chief executive of Mediatech, added: “R Franco is one of the most respected suppliers in the world and we are excited about the opportunity to work with them.
“Our omni-channel expertise is unparalleled and this agreement will allow us to continue our track record of success in Spain and beyond.
“This new joint team has already displayed its ability to innovate in the online space, and it is now extremely well positioned for omni-channel expansion in Spain, Europe, Latin America and Asia.”
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