GameAccount Network, the gaming software firm headed by Dermot Smurfit Junior, has today started trading on the ESM market of the Irish Stock Exchange and the AIM market of the London Stock Exchange.
The company has a market capitalisation of almost €90m and reported strong institutional investor interest in its placing.
GameAccount Network provides licensing gaming content to such firms as Paddy Power, William Hill, Rank, Lottomatica and Sisal MatchPoint. It operates in the UK, US Spanish and Italian markets.
The company said the placing will allow it to accelerate the growth of its business, and expand its US sales and development infrastructure, as well as drive further growth in Europe.
The company's CEO, Dermot Smurfit, said that although it is headquartered in the UK, GameAccount Network has strong Irish links through its management team, shareholders and staff.
"A quotation on the ISE makes perfect sense as it enhances our profile among the international investment community and we enjoy significant support from the network of professional advisors in Dublin. As a result we have been able to market our company and raise funds successfully throughout Ireland, Europe and the US," he added.
Deirdre Somers, the Irish Stock Exchange's CEO, said she hopes to see more companies list in Dublin after the recent change in Government policy which will see investors in ESM companies exempted from stamp duty.
"We anticipate strong trading in GameAccount Network among the ISE’s international membership base and look forward to a long relationship between its management and board and the Irish market," Ms Somers added.
