Iowa-based Phantom EFX acquired by casino gaming company
The two companies will come together in a tuck-in aquisition, meaning Phantom EFX will be merged in to a division of WMS.
"For more than a year, WMS has collaborated with Phantom EFX to successfully create, develop and launch entertainment slot games for digital, mobile and retail platforms," Orrin J. Edidin, president of WMS, said in a press release. "We are excited to welcome the Phantom EFX team members to the WMS family as together we will focus on creating the industry's most creative and comprehensive suite of interactive products and capabilities."
The acquisition expands WMS' capabilities in online content development and distribution across social, casual and mobile channels, according to the release. Financial terms of the transaction were not disclosed.
Founded in 1998, Phantom EFX is known for creating the first online, entertainment-only casino, Reel Deal LIVE!, which brought massive multi-player functionality to casino games.
WMS dates to 1943, when founder Harry Williams developed the tilt mechanism for pinball machines. The Illinois-based public company has offices around the world providing games for the casino floor, including sensory immersion games and adaptive games.
The Waterloo-Cedar Falls Courier reported that Phantom EFX's 35 employees will remain in Cedar Falls, and that they hope to add more tech jobs within the next 18 months.
"The valuable partnership developed through our work with WMS over the past year has been extremely fruitful," Phantom EFX CEO Aaron Schurman said in the release, "providing us with a strong bond that will only strengthen as we become a single team."
Schurman was not immediately available for an interview.