Private investment firm The Visualize Group has reached a deal to acquire gaming industry compliance and certification provider BMM Testlabs.
The strategic acquisition provides Visualize with access to a property that provides services to gaming product suppliers on six continents. BMM holds more than 700 gaming licenses with a workforce of over 600 people. The Las Vegas-based company serves as a private independent gaming certification company providing technical and compliance services to operators that offer Class II & III gaming, online casinos, sports betting, and lotteries.
BMM also provides services to video lottery terminal and horse racing providers. Financial terms of the acquisition were not disclosed and the deal is subject to regulatory approvals.
“Our team has closely studied the rapid global expansion of regulated gaming markets and we believe this trajectory will continue. As new jurisdictions open around the world, the need for safe and compliant gaming continues to rise,” said Visualize Managing Partner C.C. Melvin Ike. “With its global footprint, track record of technical leadership, and trusted reputation in the market, we believe BMM is the best-positioned regulatory technology platform to capitalize on the market opportunity.”
As part of the deal, Visualize will allow BMM employees to participate in its value creation plan for BMM as part of an employee ownership program. BMM President and CEO Martin Storm will also retain a significant stake in BMM and will maintain his leadership role.
The pending acquisition is being advised by Weil, Gotshal & Manges LLP, which serves as Visualize’s legal counsel while BMM is being advised by Australian law firm Gadens.
The Visualize Group considered acquiring BMM due to its mission to invest in service-based companies. The private investment firm, launched in 2023, includes investors from Golden Gate Capital, Silver Lake, and HIG Capital. The Visualize Group, a 100% employee-owned partnership, is also backed by various university endowments and foundations.
