Private investment firm The Visualize Group (Visualize) has agreed to purchase compliance and certification services company BMM Testlabs for an undisclosed amount.
As part of the acquisition agreement, BMM Testlabs’ president and CEO Martin Storm (pictured) will keep a “significant stake” and continue to lead the business. In addition, Visualize will implement an employee ownership programme to “allow BMM's employees the opportunity to participate in Visualize's value creation plan for BMM.”
"For 44 years, BMM has dedicated itself to becoming the premier service provider and partner to gaming regulators, suppliers and operators, ensuring that regulated gaming is conducted safely, transparently and compliantly,” said Storm. “It's a privilege to contribute to this journey and witness the achievement of our ambitious goals.
“Partnering with Visualize marks an exciting new chapter, as together we will drive growth for BMM and seize the immense opportunities within the evolving gaming market."
C.C. Melvin Ike, managing partner of Visualize, added: "As thematic investors, we strive to invest in exceptional businesses and management teams providing mission-critical services in growing markets. BMM exemplifies this. Our team has closely studied the rapid global expansion of regulated gaming markets, and we believe this trajectory will continue.
“As new jurisdictions open around the world, the need for safe and compliant gaming continues to rise. With its global footprint, track record of technical leadership, and trusted reputation in the market, we believe BMM is the best-positioned regulatory technology platform to capitalise on the market opportunity.
“We're thrilled to collaborate with Storm and the entire team at BMM."
