LONDON: London-listed NYCE International PLC has entered a joint venture to launch a dedicated iGaming software development company, Innovassion Limited, the company said on Tuesday, marking its strategic push into proprietary technology.
NYCE, a gaming marketplace and advisory firm, will hold a majority stake in Innovassion, which is being formed with developer Spandan Mahanta and will absorb a suite of existing software assets.
The new venture will operate as a standalone entity, focusing on building scalable online casino platforms, proprietary gaming content, and modular technology for operators in regulated and emerging markets. The existing technology stack includes a casino platform, player management systems, payment modules, and a portfolio of certified games.
The technical team joining the venture comprises more than 30 engineers with experience in platform development and systems integration. NYCE will oversee commercial strategy, sales, and compliance, while the technical side will handle development and maintenance.
The joint venture has already secured its first client through NYCE’s network, the announcement said.
Farzad Peyman, CEO of NYCE International PLC: “Innovassion represents our third investment venture in less than a year… This partnership represents a natural extension of NYCE’s strategy to move deeper into proprietary technology and venture-led growth – combining our commercial and regulatory expertise with proven technical execution.”
Spandan Mahanta, founder of the development team: “The assets which we have passionately built over the last few years will now be taking root in the ever-evolving iGaming market, working in combination with NYCE’s other ventures and partner companies.”
NYCE International (AQSE: NYCE) operates as a B2B advisory and product marketplace in the iGaming sector, with activities spanning affiliate marketing, payments, and crypto.