In a move set to expand its footprint in mobile social casino industry, Octro Inc., announces its acquisition of DGN Games, a gaming company in casual slots, having titles like Lucky Time Slots and Old Vegas Slots.
Founded in 2006, Octro is well-known in the gaming sphere, providing online entertainment to millions of users with its portfolio of games like Teen Patti, Play Rummy and Octro Poker. The company said that this acquisition represents a key element of Octro’s broader strategy to grow not only organically but also inorganically, while leveraging its strong technical expertise, India base and the market conditions.
DGN Games, has historically been creating immersive slots experiences. With offices located in Israel, Australia and Ukraine, its slot games are played across the world. DGN Games said that the acquisition by Octro Inc. is poised to create synergies that will amplify both companies’ strengths and elevate the gaming experience for enthusiasts worldwide.
Expansion into Key Markets
The press release stated that the acquisition of DGN Games aligns seamlessly with Octro’s vision for strategic expansion into key international markets. With this acquisition Octro Inc. aims to tap into new demographics, offering culturally relevant and localised gaming content to a global audience.
Saurabh Aggarwal, CEO of Octro Inc., expressed his enthusiasm about the move: “This acquisition is a pivotal moment for Octro Inc. DGN has established itself as a leading force in the gaming industry, and joining forces allows us to leverage our combined strengths. We are excited about the potential for innovation and the opportunity to bring even more exciting gaming experiences to players around the world.”
Deepak Goyal, CFO of Octro Inc. affirmed, “Our optimism for the takeover stems from the value we can derive from the asset, not just in revenue and growth synergies, but also in substantial cost efficiencies. As our first acquisition, it sets a template for future endeavours. With a robust balance sheet and the backing of an investor like Sequoia (now Peak XV), we’re well-positioned to go out into the market and look for assets that can help drive sustained success and growth in the competitive landscape over the coming months / years.”
Dan Wiegenfeld commented, “This is an exciting day for DGN Games. Becoming part of Octro is opening the next chapter in the history of our company. We are confident that together with the talented Octro team we will be able to deliver an even better game experience for our players, reach new audiences to continue our growth and create great value for our new shareholders.”
The press release also mentioned that the global collaboration between Octro and DGN is not only about expanding market reach but also about the exchange of ideas, talent, and cultural influences. By harnessing the collective creativity of teams from different corners of the globe, the new entity aims to develop games that resonate with a diverse global audience.
