Banknote authentication technology firm Spectra Systems said it had boosted its international customer base after buying assets from a gaming software firm.
The company has spent $0.75m on buying proprietary source codes, multi-year contracts and long-standing customer relationships from US-based Lapis Software Associates.
Spectra said Lapis was a leader in the gaming software industry and had a 15% worldwide market share of the Internal Control Systems (ICS) segment.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
ICS is a secure, high speed data platform which has an independent security role in auditing online and other gaming systems.
It provides tools for fraud detection, money laundering, match fixing, and statistical analysis.
"The acquisition of the Lapis ICS Business adds to the international customer list we acquired in the ICS area when we recently purchased the majority of ESI Integrity's assets," said Chief Executive Nabil Lawandy.
"With the acquisition of the Lapis ICS Business, Spectra will have over 30% market share in gaming applications of ICS and will be one of the two remaining major suppliers providing such security technology to lotteries worldwide," he added.
-
-
Act now: First Direct’s £175 switching bonus ending soon
First Direct has launched a £12,500 prize draw on top of its £175 cash bonus - but they both finish soon, so you’ll need to be quick
-
Credit card providers slash 0% balance transfer deals
Customers face a double whammy of rising interest rates and shorter 0% balance transfer periods. We look at what’s going on in the credit card market and why you’ll need to act fast to get the top 0% balance transfer deal
