Former Bwin.party chief joins UK investment group
News on 14 Apr 2016
News on 14 Apr 2016
Former Bwin.Party chief executive Norbert Teufelberger has been appointed special adviser to the London AIM-listed FastForward investment house and will support the company’s initiatives in finding investment opportunities in the technology and gaming sectors.
Announcing the appointment, FastForward CEO Lorne Abony, said:
“Norbert’s experience in building one of the most successful global online gaming companies is a serious advantage for FastForward. Norbert has a deep set of relationships across a multitude of technology sectors and a fantastic network; I am delighted that he has accepted our invitation to join us.”
Teufelberger has been credited with introducing FastForward to Leap Gaming, an early-stage technology startup focused on Virtual and 3D games, in which FastForward has taken a major stake as announced on 11 April 2016 (see previous report).
He is a significant shareholder in FastForward and believes that the company’s strategy to acquire stakes in early stage start-ups will deliver superior returns to shareholders.
Throughout his 30-year career he was involved in the acquisition and integration of numerous technology companies, securing more than $1 billion in a series of equity and debt financings. At its peak, Bwin had approximately 4,000 employees globally and a market cap in excess of $3 billion.
FastForward has agreed to grant Teufelberger 1,000,000 options over ordinary shares in FastForward on the same terms as the options granted to the directors of the company.
