nder the terms of the agreement PacificNet would acquire 100% ownership of Octavian International Limited, a worldwide supplier of gaming technology, solutions and systems. The transaction is subject to various conditions including the completion of due diligence, which has already commenced.
Upon completion, Octavian would continue operating under its current name as a wholly-owned subsidiary of PacificNet and would continue to pursue its global growth strategy as a leading provider of gaming technology.
Octavian owner and CEO Harmen Brenninkmeijer would become an Executive Director of PacificNet and a member of the board of directors, and continue to serve as CEO of the Octavian subsidiary within PacificNet's gaming division. Upon completion of the earn-out provisions and profit targets as defined in the acquisition agreement, Brenninkmeijer would become President of PacificNet's Global Gaming Division.
Octavian, which has its worldwide headquarters in Guildford, United Kingdom, develops and markets innovative games and systems and sells its gaming solutions in over 30 countries including Russia, Italy, Germany, Ukraine, Colombia, Mexico, Argentina and South Africa. It also distributes gaming machine and equipment from many of the world's leading gaming brands through its OctaSupplies division.
The company's own games and systems include the DreamGames portfolio of casino video slot games, AWP games, downloadable/VLT games and systems for gaming and lottery operations, and ACP (Accounting, Control, Progressives) slot management systems. It is one of the largest independent suppliers of back-end systems to casinos.
PacificNet is a leading provider of gaming and mobile game technology, e-commerce, and Customer Relationship Management (CRM) solutions in China. Its gaming clients include leading hotels, casinos, and gaming operators in Macau, Asia and Europe.
Its products include multi-player electronic table games, roulette machines, Server-Based Games (SBG) with multiple client betting stations, slot and bingo machines, Video Lottery Terminals (VLTs), Amusement With Prizes (AWP) machines, gaming cabinet and client/server system designs, online i-gaming software design and multimedia entertainment kiosks.
Through its China subsidiary, PacificNet is also a legally licensed provider and sales agent for legalised welfare lottery gaming in the People Republic of China. It currently sells its gaming products and solutions in dozens of countries worldwide with a strong focus on Asia.
Commenting on the deal, Tony Tong, CEO of PacificNet, said: “As with other PacificNet subsidiaries, we are committed to Octavian continuing to operate independently under its own well-respected name. The acquisition will have a synergistic effect by combining Octavian's strong global brand name and worldwide gaming distribution expertise with PacificNet's low-cost development resources in China and local Asian gaming expertise. We are confident that Octavian's product portfolio and global growth strategy is an extremely good fit with PacificNet's.”
Harmen Brenninkmeijer, CEO of Octavian, added: “Being part of a company with the market presence and profile of PacificNet would significantly enhance Octavian's global growth potential. At the same time it would enable us to extend and enhance still further the range of gaming and lottery solutions we are able to provide to existing and new customers worldwide.”
"We are very excited about working with Octavian," said Victor Tong, President of PacificNet. ”Octavian's experienced creative development teams are able to create proven games that are tailored to individual jurisdictions and are highly cost-effective. Also, Octavian has a well-proven, robust and flexible systems offering. Its ACP slot management system currently links tens of thousands of gaming machines into efficient networks that offer highly attractive multi-machine jackpot games. To this Octavian has recently added leading-edge casino reception and cash desk systems which provide a complete end-to-end systems solution for today's modern casinos.”