Elys Acquires Software Engineering and IT Development Firm Engage IT Services, S.r.l.

Elys Acquires Software Engineering and IT Development Firm Engage IT Services, S.r.l.
Elys Game Technology, Corp.

Elys Sport Technological innovation, Corp.

NEW YORK, Feb. 02, 2023 (Globe NEWSWIRE) — Elys Activity Technology, Corp. (“Elys” or the “Company”) (Nasdaq: ELYS)(BER:3UW), an interactive gaming and sports activities betting technological know-how organization, nowadays announced that it has finished the acquisition of a top quality software package engineering and IT improvement business, Engage IT Companies, S.r.l. (“Engage”). The agency provides most effective-in-class growth of sportsbook and gaming apps for cloud, net, and cell platforms, person working experience enhancement, tailored enterprise intelligence, digital transformation consulting, conclude-to-end venture and product management, Microsoft options, and other engineering and enhancement initiatives. The integration of the Interact team in just our firm will considerably enrich our in-property engineering capabilities and addresses the abundance of incoming organization, like the advancement of our US product offerings which contains retail chances and mobile options as properly as the growth of our world-wide digital gaming platform and world wide mobile alternatives, when streamlining our current group engineering assignments.

On the exact working day the Firm also acquired long-term commitments of 6 essential IT, engineering, and risk and challenge administration workers as a result of the issuance of incentive shares vesting regular monthly about a period of 3 decades.

“With the acquisition of Interact we satisfy our method of creating a notable in-household engineering foundation for the Team. Have interaction delivers the great mix of engineering excellence, overlapping company society, and regional presence that we are self-assured will make a lasting constructive impact on Elys, leveraging off their means and several years of practical experience to expand our company choices and to boost our expert services to our clients and staff members,” stated Michele Ciavarella, Govt Chairman of Elys Activity Engineering. “Prior to the acquisition of Interact, our global crew of strategists, designers, and technologists experienced worked nearly solely with Interact to make impressive digital experiences for end users and platforms that ended up intended to facilitate rapid improvement and supply of tailored sportsbook applications. We feel that, after the near collaboration that we have had with the Interact staff, that this acquisition was a organic progression for Elys in its journey to grow to be a primary supplier of close-to-conclude sportsbook methods for both B2B and B2C consumers.”

Established in 2016 and based in Italy, Have interaction employs 30 specialists like architects, developers and program engineers that specialize in the layout, implementation and administration of SQL databases, agile and DevOps challenge administration, and solutions based on the Microsoft cloud platform (Azure) and in the enhancement of .Internet programs, primarily centered on sports betting and gaming units. Have interaction has also presented agreement products and services to Elys, actively playing a critical purpose in the advancement of our Elys Gameboard sportsbook know-how and Player Account Administration System (PAM), and has a deep know-how foundation of Elys’ Gameboard architecture and at this time displays program masses to be certain seamless effectiveness of the Company’s chopping-edge sportsbook.

The deal is structured as an equity acquisition of 100% of the shares of Engage this kind of that Have interaction will become a wholly owned subsidiary of Elys on the conditions and subject matter to the circumstances established forth in the Share Obtain Agreement (“Agreement”). The present-day Have interaction and Elys leadership and management team will stay in their present roles and their fascination are aligned with that of our shareholders owing to the fairness mother nature of this transaction. Pursuant to the Agreement, Elys will situation somewhere around 3,018,462 shares of prevalent stock (“Shares”), valued at €1.08 million, which acquire value could be enhanced or decreased dependent on the internet monetary position of Engage as established by due diligence, on or prior to June 30, 2023. Issue to the repurchase option set forth in the Agreement, the Sellers will be restricted from disposing of the Shares for 36 months and the Organization might repurchase the Shares issued for €1.08 million in dollars up to June 30, 2023.

About Elys Recreation Technologies, Corp.

Elys Activity Technological know-how, Corp., is a B2B international gaming technological innovation company working in various nations all over the world, with B2C on line and land-based gaming operations in Italy. Elys delivers its clientele a full suite of leisure gaming goods and solutions, these as sports betting, e-sporting activities, virtual sports, on the net casino, poker, bingo, interactive online games and slots in Italy and has operations in 5 states as properly as the District of Columbia in the U.S. industry. Elys’ vision is to come to be a world chief in the gaming business by means of the progress of revolutionary and ground breaking technological know-how.

The Enterprise supplies wagering solutions, services on the net operators, casinos, retail betting establishments and franchise distribution networks. Supplemental details is accessible on our company internet site at www.elysgame.com.

Buyers may perhaps also come across us on Twitter @ELYS_gaming.

Forward-Looking Statements

This push release includes sure ahead-seeking statements in just the indicating of the secure harbor provisions of the Non-public Securities Litigation Reform Act of 1995. These statements are determined by the use of the phrases “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and related expressions that are meant to identify ahead-hunting statements. These ahead-seeking statements are primarily based on management’s expectations and assumptions as of the day of this push release and are issue to a number of risks and uncertainties, quite a few of which are difficult to predict that could bring about real success to differ materially from present expectations and assumptions from people set forth or implied by any ahead-seeking statements. Even though the Corporation thinks this sort of ahead-on the lookout statements are based on acceptable assumptions, it can give no assurance that any of its expectations will be attained. Vital components that could trigger true outcomes to vary materially from recent expectations involve, among the other folks, the Company’s skill to fulfill our technique of creating a prominent in-household engineering base, the transaction earning a long lasting good impression on Elys, the Company’s capability to broaden our company offerings and to enrich our companies to our shoppers and employees, for the acquisition to be a all-natural development for Elys in its journey to turn into a top provider of conclusion-to-conclude sportsbook options for each B2B and B2C consumers, the period and scope of the COVID-19 outbreak around the globe, including the impression to point out and local economies, and the possibility aspects described in the Firm’s Yearly Report on Variety 10-K for the 12 months ended December 31, 2021 and its subsequent filings with the U.S. Securities and Trade Fee, together with subsequent quarterly experiences on Type 10-Q and current reports on Form 8-K. The details in this launch is furnished only as of the day of this release, and the Enterprise undertakes no obligation to update or revise publicly any forward-wanting statements, whether or not as a result of new information, upcoming functions or or else, right after the date on which the statements are designed or to replicate the event of unanticipated occasions, other than as needed by law.

Enterprise Contacts:
Elys Match Engineering, Corp.
Investor Relations
Tel.: 1-561-838-3325
E mail: [email protected]