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Microgaming has announced that it has agreed in principle the sale of its Quickfire distribution business and portfolio of online games, including progressive jackpot titles, to Games Global Limited.

The landmark sale, which is subject to newly established Games Global receiving certain regulatory approvals, is expected to complete in Q2 2022.

Under the agreement, Games Global will acquire the international distribution rights to Microgaming’s exclusive gaming content, and also inherit its extensive customer base comprising of more than 900 global gaming brands.

Following the sale, Microgaming will continue to supply certain customers with its turnkey games platform, as well as focus on the further development and licensing of its sports betting technology.

Games Global is a private capital-backed company led by CEO Walter Bugno, formerly of IGT and Lottomatica, and CFO Tim Mickley, previously of SafeCharge and Playtech.

“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. Games Global will acquire the game IP and distribution business previously known as Quickfire, and Microgaming will continue to support its core traditional business, while increasing its reach with the addition of new business and managed services,” John Coleman, CEO of Microgaming, said.