Financial terms of the deal were not disclosed, but it was confirmed that the Austria arm of Greentube will hold a majority stake in the Malta-based business.
Greentube said the acquisition will significantly strengthen its own B2B offering by giving it control of the Alteatec Olympus One igaming management system and platform technology, which includes bonus engines, duel tournaments and other gamification tools.
In addition, Greentube said that it will use Alteatec’s key live dealer streaming and voiceover technology to improve its content portfolio. This will include combining Alteatec technology with its Novo Unity electronic table games offering.
Alteatec has made a major splash since the launch of nationwide regulated slots and poker in Germany. The supplier provides its platform to brands owned by both Novomatic and Gauselmann Group, which dominated the early list of licensees.
As part of the acquisition, Greentube chief executive Thomas Graf and chief operating officer Georg Gubo will become managing directors of Alteatec, alongside current MD Christian Sael.
“I am delighted to start 2023 in such momentous fashion,” Graf said. “Alteatec is a market-leader in igaming technology and being able to utilise its talented and experienced team is going to be game changing for Greentube going forward.”
Alteatec’s Sael added: “Greentube is a company that needs no introduction, so to become part of that storied brand truly is an honour. We’re all incredibly excited about this partnership and we can’t wait to get to work, delivering all the services we’re recognised for in order to help the company grow.”
The deal comes after Greentube in October also acquired San Francisco-based Present Creative for an undisclosed amount.
Present Creative has experience creating content for the igaming and ilottery segments, with experience in both real-money and casual gaming offerings, having had a number of its products approved to be released by the Michigan State Lottery.