While the week has just begun, it is already a busy one for Microgaming. The company announced yesterday that it has agreed to sell its Quickfire distribution business and portfolio of online gaming titles to Games Global Limited. On top of that, John Coleman, the CEO of the company, announced he is stepping down as of December 31, 2021. He will be replaced by COO Andrew Clucas.
Details of the Quickfire Divestiture
The sale of Quickfire is considered a landmark affair and should close by the second quarter of 2022. Based on the full terms of the agreement, Games Global will gain the international distribution rights to exclusive gaming content of Microgaming. The company will also take on the large customer base of the company, one that includes over 900 gaming brands that are based around the world.
Once the sale concludes, Microgaming will still be able to supply content to particular clients via the company’s turnkey gaming platform. Microgaming also has plans to continue developing and licensing sports betting tech.
Microgaming CEO John Coleman commented on the sale by stating: “This is an exciting deal that has been in the making for some time and which will provide new growth and opportunity for both Microgaming and Games Global. We are announcing it now to provide sufficient notice and clarity for our partners and stakeholders.”
CEO to Step Down
In our second batch of Microgaming news, CEO John Coleman is stepping down from the position as of the end of 2021. He was appointed in the role in June 2018 after serving as CFO for almost 14 years. In the position of CEO, Coleman help to drive the strategy and vision of the company as well as diversify the product offering.
While Coleman is stepping down, he will stay with the company in a non-executive role. According to Coleman, it is now time for him to ‘embark on the next adventure’. He was delighted to announce Andrew Clucas as his successor, calling him a brilliant colleague, friend, and leader.
Andrew Clucas has been with the company since 2009 after being in the Royal Air Force. He was named chief operating officer in January 2018. Clucas called his new position an incredible honor and says he plans to lead the business with the same passion and commitment as Coleman. He stated further that he cannot praise Coleman enough for his contributions and achievements with Microgaming over the many years of service.