Philippines gaming and technology group DFNN Inc said Monday that its Board of Directors has authorized the 100% acquisition of IT services firm DCG Inc, for a total consideration of Php2 million (US$36,200).
DFNN currently holds a 55% stake in DCG, which describes itself as providing software development and customer support services to third parties, as well as research and development. Full acquisition will be executed via a Share Purchase Agreement, the company said, with payment to be made after the execution of the deed of sale in shares of stock.
DFNN is leading IT solutions provider and systems integrator to the financial sector but also holds licenses for Electronic Gaming Machines (EGMs), operates a sports betting exchange, and runs digital and pari-mutuel games in partnership with gaming regulator PAGCOR.
Its operations include the provision of the Philippines’ first platform for the local PIGO industry, InPlay.ph.
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