High 5 Games and Electrotank, Inc. announced today that the companies have entered into a definitive agreement under which High 5 Games will acquire substantially all of Electrotank's assets and intellectual property. As a result of the agreement, High 5 Games will welcome the Electrotank team into the company.
"This move will allow High 5 Games to strengthen and finalize our upcoming game server platform, which will allow our content to be real-time streamed to both regulated real-money gaming sites, as well as to social casino sites throughout the world," said Anthony Singer, CEO of High 5 Games. "We are overjoyed to bring in the many talented individuals from Electrotank into High 5 Games."
High 5 Games, a game creator in the casino industry, has worked with Electrotank in the past to move some of its popular land-based slot games onto Facebook's gaming platform.
"This is a wonderful opportunity for Electrotank," said Michael Gold, CEO of Electrotank. "High 5 Games has a long history of producing highly successful content, and I am excited to see what the two companies can do together."
Electrotank has licensed its server and platform technology to hundreds of companies during its history, and has developed games for a number of well-known clients, including Disney, MTV, Nickelodeon, Mattel, and Comedy Central. The company is recognized for its highly scalable game server, which allows for seamless concurrent play for a very high volume of players.
"We will continue to look for opportunities of this kind to improve upon our position as a premier content provider," said Med Nadooshan, COO of High 5 Games. "High 5 Games' growth strategy will allow the company to aggressively pursue potential new ventures and rapidly expand into untapped markets."