STOCKHOLM, SWEDEN, December 21, 2011
/24-7PressRelease/ -- Jadestone today announced the completion of a management buy-out from its parent company, Åland based gaming operator Paf. The company is now 100% owned and controlled by its current management team.
The buy-out agreement includes the entire Jadestone corporate structure, including all staff, gaming platforms, intellectual properties and other resources currently employed by Jadestone in its development and operation of online casino and multiplayer gaming solutions for leading global operators.
"Our relationship with Paf has been invaluable for our growth into an established player on the global online gaming arena," said Robert Henrysson, CEO for Jadestone. "However, the synergies have diminished as Paf concentrates on the consumer business while Jadestone's focus is on B2B gaming platforms. Now that we part ways, it's with excitement but also with great appreciation of our long partnership. We certainly expect that Jadestone will continue to be a key provider of popular games to Paf."
"It's a rare luxury for management teams to get a chance like this," said Tobias Nissen, Business Development Director for Jadestone. "We're clearly leaving a safe harbor, but for true entrepreneurs like us, nothing beats steering your own ship. We hope and believe that the independence and flexibility now gained will enable us to serve and delight both current and new clients even better."
Contacts
Robert Henrysson
CEO, Jadestone
robert.henrysson@jadestone.se
+46 8 24 05 01
Tobias Nissen
Business Development Director, Jadestone
tobias.nissen@jadestone.se
+46 8 24 05 01
About Jadestone
Jadestone is a leading developer of fully managed online game solutions. The product portfolio is built on the acclaimed Arena networks and features backgammon, card games and a full range of casino- and mini games in partnership with Play'n Go. Headquartered in Stockholm, Sweden, the company is privately owned and funded. For more information about Jadestone and its products, please go to http://www.jadestone.se.
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