PhilWeb Unloads German Stake

Sat, Jan 7, 2017

Philippines technology provider PhilWeb Corp. has sold its 32.5 percent stake in German technology provider Acentic GmbH to help pay for its domestic gaming operations. The buyer is Niantic Holding GmbH.

Philippines e-Gaming company PhilWeb Corp. has sold its 32.5 percent stake in Germany-based technology firm Acentic GmbH, which provides in-room entertainment and communications for hotels. Proceeds of the 0,000 cash sale will be used to cover the costs of PhilWeb‘s domestic business as it awaits the processing of its application to run e-Games cafes in the Philippines.

Last summer President Rodrigo Duterte shut down the internet cafes, but has since established a framework for legal online gaming.

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