International Certification Agency eCogra acquired by Hanover Investors
LONDON, UK - DECEMBER 15, 2021
eCOGRA, a leading independent and internationally approved testing and certification agency for the online gambling industry, has been acquired by Hanover Investors.
eCOGRA focuses on using its in-house certification methodologies and expertise to enable player protection, fair gaming and responsible conduct by operators and software providers through its Generally Accepted Practices (eGAP).
In regulated markets, gambling operators, games developers and relevant service providers must work with approved Independent Testing Laboratories, such as eCOGRA, to ensure their products are continuously certified as compliant with local rules and regulations.
eCOGRA offers testing and inspection services, cybersecurity assessment, product certification and accredited ISO/IEC 27001 information security management certification. It is an approved testing agency and certification body for more than 30 jurisdictions across Europe, North and South America and Asia. It has also been approved to provide alternative dispute resolution to gambling operators licensed by the Great Britain Gambling Commission or the Malta Gaming Authority.
Matthew Peacock, Founder and Chairman of Hanover Investors, said: “We believe the market and competitive dynamics that have supported eCOGRA’s growth and margin profile will continue, with further upside from expansion into markets around the world. The US represents a particularly significant opportunity following Federal legislation changes in 2018, triggering the liberalisation of gambling laws at a state level. Hanover looks forward to investing in and enhancing its commercial capabilities including through mergers and acquisitions.”
Shaun McCallaghan, CEO of eCOGRA said: “We are delighted to be coming into the Hanover Investors’ fold. The firm has a recognised track record of unlocking value and catalysing the growth of other companies in its portfolio. We look forward to benefiting from the operational expertise that it will provide to our business as we look to further scale geographically.”
eCOGRA was acquired for an undisclosed sum via Hanover Active Equity Fund II. Mr Peacock will become chair of eCOGRA’s board.
Investec Growth & Leveraged Finance provided the debt financing to support the transaction.
About eCOGRA
Founded in 2003 to establish and improve operational standards and player safety requirements in the online gambling space, eCOGRA has amassed a wealth of experience in implementing international best practice standards and requirements and ensuring these are maintained through regular review and monitoring.
eCOGRA acts as a regulatory audit partner to over 200 multi-jurisdictional operators, software providers and other relevant service providers in the online gambling industry.
It is the first online gambling testing laboratory authorised to offer operators and service providers accredited ISO/IEC 27001 certifications for Information Security Management Systems (ISMS) and is the only laboratory able to provide Alternative Dispute Resolution (ADR) services. The company is an approved testing laboratory with several online gambling jurisdictions.
The Independent Testing Laboratory is staffed by a team of professional auditors with Big 4 auditing firm experience, information security experts, test engineers and responsible gambling specialists.
For more information about eCOGRA's testing and certification services, please visit https://ecogra.org.
About Hanover Investors
Hanover Investors is a specialist investor that operates in under-analysed and illiquid markets.
We combine analytical rigour and flexibility in execution which allows for a repeatable model of successful investment selection. A deep understanding of a company's operational and strategic context is at the centre of our investment process, refined over decades of hands-on management of small to mid-size organisations. We influence the main levers of value creation of an investment, providing our portfolio with access to proven “playbooks” and a Hanover bench of specialists.
This approach has delivered a market leading record of returns for over 20 years.
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