Strategic acquisition strengthens Openbox Holdings’ iGaming platform, Openbox Gaming, with new in-house studio

Openbox Holdings, a fast-growing distributor of iGaming content across Asia and other key markets, today announced its acquisition of Gibraltar-based Boldplay, an innovative iGaming studio known for its engaging games, rewarding jackpots and signature bonus spins.

This strategic move will enhance Openbox’s portfolio with the introduction of Boldplay’s innovative products, further expanding the company’s offerings and increasing its appeal to a broader global audience.

Led by CEO Richard Hogg, the acquisition marks a significant milestone for Openbox Holdings’ OpenBox Gaming subsidiary, making Boldplay’s full roster of innovative content available to operators across the Openbox Gaming platform.

With a vision to establish itself as a leading provider to the global iGaming industry, OpenBox Gaming offers a catalogue of unique and exclusive games built by the industry’s best developers, available to operators across global markets.

The integration of Boldplay’s games into Openbox’s proprietary platform will begin immediately, with new content, updates and enhanced player experiences expected shortly. Hit titles from Boldplay will include the likes of Brute Force, Cam Carter and the Cursed Caves, Cyborg City and Speed Heist.

As part of the acquisition, key members of Boldplay’s development team will also join Openbox Gaming, ensuring continuity in the creativity and innovation that have made Boldplay a renowned studio in the iGaming industry.

Founded in 2019, Boldplay has quickly become a force to be reckoned with in the game development space, with its portfolio of partners including tier one operators across Europe, LatAm and the US – such as ApuestaTotal, BetMGM, Grosvenor Casinos and Sportingbet.

Together, the two companies will leverage their combined technology, expertise and resources to offer players new and exciting content, while also advancing the development of upcoming projects.

Commenting on the acquisition, Openbox Holdings CEO Richard Hogg said: “We’ve long admired the creativity and innovation coming out of Boldplay. Their approach to engaging players with rich content and rewarding mechanics is a great fit for our platform. By joining forces, we’ll be able to leverage each other’s strengths and deliver even more exciting and rewarding experiences to our players.”

Valli Fragoso, CEO of Boldplay, celebrated the acquisition: “We are excited to join Openbox on this new journey. Our visions are closely aligned, and together we will create memorable gaming experiences for players. We’re looking forward to building on the foundation we’ve established and expanding our reach to new audiences worldwide.”

Accel-backed Jetapult, a global strategic investment company in the gaming landscape, takes a major stake in Saudi Arabia based UMX Studio. The company invested $4.5mn in an all-cash transaction.

In addition to acquiring equity, Jetapult will provide capital to support the expansion of UMX’s existing portfolio, expand its audiences across global markets, and build games in new genres.

This will be Jetapult’s first investment in the MENA region, with further investments planned in markets like South East Asia and Europe.

Jetapult’s team of global gaming experts, will help catalyse the studio’s capabilities to enhance user acquisition, scale monetization efforts, and adopt cutting-edge analytics and AI tools through their “Invest & Operate” (I&O) model

Jetapult, co-founded by Sharan Tulsiani and Yash Baid, is backed by Accel Partners, Fireside and JetSynthesys, amongst others. The company aims to support game studios with a scientific approach to sustainable growth in markets such as Southeast Asia, MENA, Eastern Europe, and Latin America, through a $100 million commitment over the next five years.

UMX Studio founded by Mr. Ali Alharbi in 2014, is one of the first homegrown game development studios established in Saudi Arabia. The studio develops high-quality mobile games featuring stunning graphics, engaging gameplay, and suitability for all ages. Their games have garnered over 70 million downloads till date, and the company has shown consistent year-on-year growth, driven by a portfolio of games that consistently top the Apple and Google charts in the region.

The investment comes in the context of the exponential growth of the gaming and e-sports sector in the MENA region with Saudi Arabia representing 39% of the Middle East’s gaming revenue from consumer spending and is the fastest-growing market in the region, according to Sensor Tower, 2024

Jetapult is committed to UMX’s vision of fostering the Saudi Arabian market to become a hub for game development by harnessing Jetapult’s strategic expertise and UMX’s local talent and cultural nuance.

Speaking on the occasion, Sharan Tulsiani, the Co-Founder and CEO of Jetapult said “Jetapult’s investment in UMX goes beyond providing capital; we bring a wealth of proven gaming expertise and cutting-edge technology to this partnership with an aim to enhance gaming experiences across the Middle East’s emerging development ecosystem.”

Mr. Ali Alharbi – Founder UMX stated “This significant investment from Jetapult not only marks a milestone for UMX Studio but also heralds a new era for the Saudi Arabian gaming industry. We are thrilled to partner with a globally recognized leader in the gaming investments space. This collaboration will not only accelerate our expansion but also empower us with advanced tools and expertise.”

Mr. Rajan Navani, Chairman and MD, Jetsynthesys  said “The people of India and Saudi Arabia have been trusted partners for trade in goods and global expertise for millennia. This strong legacy has been carried forward in the fastest-growing and digital-first market of gaming through Jetapult’s investment in UMX. This partnership of deep expertise and culture will bring together the gaming and eSports communities in both these youthful markets.”

La Française des Jeux (FDJ) announces the success of its tender offer for Kindred Group plc, a leading player in the online betting and gaming sector in Europe.

At the end of the offer period ending on 2 October, 195,659,291 Kindred Swedish Depository Receipts (SDRs), representing 90.66% of the Group’s capital, were tendered. FDJ had also acquired 2,400,000 Kindred SDRs directly from Veralda, representing 1.11% of the Group’s share capital.

With the condition precedent of controlling more than 90% of Kindred’s share capital¹ fulfilled, FDJ decided to complete the acquisition of Kindred Group plc. Settlement-delivery for Kindred shareholders who have tendered their SDRs to the offer will take place from 11 October and FDJ will implement a squeeze-out procedure on Nasdaq Stockholm.

In addition, FDJ announces that it is extending its offer until 18 October 2024 at 5 p.m. CEST to enable Kindred shareholders who have not tendered their shares to do so on unchanged terms, i.e. SEK 130 per SDR. Settlement and delivery will take place from 29 October.

Kindred is one of the top five online betting and gaming players in Western Europe, present in seven of the top ten European markets, chief among them the Netherlands, the UK, France, Sweden and Belgium. It offers a comprehensive online offering (sports and horse betting, poker and casino), operating brands such as Unibet and 32Red.

This transaction of nearly €2.5 billion creates a European champion with a diversified and balanced profile, based on monopoly activities, primarily lotteries, in France and Ireland, and on online sports betting and gaming activities open to competition in Europe.

The new combined group resulting from this offer will generate around 26% of its revenue internationally, and its online gaming range open to competition will account for around 27% of its business.

Stéphane Pallez, Chairwoman and CEO of the FDJ Group, said: “I am delighted to announce today the acquisition of Kindred, a leading European player in the competitive online betting and gaming sector. Kindred has strong brands, recognised technological excellence and an attractive growth and profitability profile, all of which will bolster FDJ’s strengths. The two groups also share high standards for responsible gaming and a business model that combines performance and responsibility. This acquisition creates a new European champion that intends to pursue its strategy of sustainable and profitable growth for the benefit of all its stakeholders.”