Private investment firm The Visualize Group Tuesday announced an agreement to acquire BMM Testlabs, a provider of testing, inspection, compliance, and certification services for the global regulated gaming industry.
BMM Testlabs’ President and CEO Martin Storm will retain a significant stake as part of the transaction and continue to lead the business.
“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,” Storm said in a statement. ‘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.”
BMM, headquartered in Las Vegas, Nevada, and founded in 1981, provides TICC services to gaming product suppliers in regulated gaming markets across six continents. As part of the transaction, Visualize will implement an employee ownership program to allow BMM’s employees to participate in Visualize’s value creation plan for BMM, which includes several organic and inorganic growth initiatives.
“As thematic investors, we strive to invest in exceptional businesses and management teams providing mission-critical services in growing markets. BMM exemplifies this,” said Visualize Managing Partner C.C. Melvin Ike. “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 capitalize on the market opportunity. We’re thrilled to collaborate with Storm and the entire team at BMM.”
Financial terms of the transaction were not disclosed, and the transaction is subject to regulatory approvals.
