When the news of the possible takeover of RiverPlay by the investment major IBID started sending a positive current through the gaming industry, the strategists at both the ends were sharpening their rebranding and brand unification strategies. Customers were assured of a critical value enhancement by the IBID Pragmatic Play association and were guaranteed with responsible gaming, post rebranding of RiverPlay to Pragmatic Solutions.
Why do companies rebrand?
Rebranding is a positive and strategic business practice and is very common in the case of corporate M&As. A more appealing brand proposition, a need to crack new and untapped target markets and to bring more fluidity and attractiveness to the brand, are the reasons why enterprises often rebrand themselves.
- A change in name, logo and brand are inevitable in rebranding of an organization, though the process is more complex than these small steps.
- Diminished brand performance may instigate rebranding moves, in order to reassert marketability of your product offerings.
- An acquisition brings about change in ownerships, management , shareholding and investment patterns, necessitating an overall rebranding strategy.
From RiverPlay to Pragmatic Solutions
The internet based acquirer IBID went in for a hat trick last year, bringing in the dynamic solutions provider RiverPlay under its umbrella. Upon acquisition, RiverPlay successfully rebranded as Pragmatic Solutions, in order to make itself market ready and to manage post-acquisition repercussions.
- A newness warranted by rebranding will ease post-acquisition tensions and make the most of the sensation created in the market due to the coming together of brands.
- The gaming market is highly volatile and is extremely receptive to technological advancements. As an API based solutions provider, the IBID Pragmatic Solutions brand will offer new and technology-based solutions for their clients, to cater better to the e-gaming industry.
Going in for a lion’s chunk of market share
Both the strategic leadership at IBID and the working management at Pragmatic Solutions, were able to find in themselves, a mutual avenue to grow and make it big. The prime focus was on garnering market share, since the evolution of the IBID Pragmatic Solutions as a competitive brand was well-received by gaming customers and end-users.
- Pragmatic Solutions is a powerful platform provider and assists casinos to cater to their clients better, with improved solutions managing content and customers.
- Changing markets have been handled very well by the acquisition, since Pragmatic Solutions offers the apt products while IBID laces it with expert go-to-market strategies.
The positive impact on delivery mechanism
Rebranding does not stop with alterations and changes to the brand and the collaterals, but brings about organic changes in the delivery of the brand to the market. To make the product access easier, and to make the customization of technology cost-effective, the way a business delivers its offerings to the market, is key.
- The multitude of tech-based solutions demands a customer-centric platform on which products are delivered.
- Pragmatic Solutions offer seamless solutions to engage with various third party service e providers with its frills-free approach.
- The products make scaling-up easy and less time-consuming for B2B users, so that they can go in for the tailored solutions offered by the company to keep pace with technological demands.
Merger of corporate identities
Rebranding assumes significance when there is a need to merge corporate identities for mutual growth. The situation needs to be contemplated objectively with none of the parties standing to gain on an unfair basis. The bottom line of the deal between IBID and Pragmatic Solutions is that there will be a commonality between brand identities and an element of simultaneity in growth prospects.
- There is no scope for a contradiction of interests since both the organizations are process enablers and technology based solutions providers.
- The rebranding of RiverPlay to Pragmatic Solutions will hasten the brand unification process and will help in crafting effective narratives to capture newer markets.
Brand Refreshment brought about by the IBID Pragmatic Solution acquisition
Acquiring controlling stake in the RiverPlay platform has been a phenomenal leap for the IBID portfolio, since the team was able to identify various channels to fill with cash, people, strategy and development based initiatives, to leverage overall brand performance.
- The global casino market that was sourcing its technology requirements piecemeal, is now granted access to a new and refreshed brand that offers refined solutions.
- The CRM platform is comprehensive and multi-edged so that no customer goes unattended in respect of marketing, follow-up or branding.
- A seamless experience with service providers is brought about by these fully customizable products that uses technology to optimize your operational investments.
A win-win for the parent brand and the acquired brand
What places the green tick beside the strategic deals of IBID is the way in which equal importance is accorded for both the investor and the investee. The qualitative line of divide between individual and collective interests is well-drawn and balanced.
- Both the brand stand to gain in tangible proportions. IBID has already championed the market of land based casinos and wishes to extend its signature success strategies to e-gaming.
- The association with Pragmatic Solutions will improve brand value for both the organizations, since RiverPlay has blazed its trail in the delivery of a range of tech-based products crafted specifically for the internet gaming sector.
Repositioning offerings for a wider market
Internationalization has been a prime driver for many rebranding ventures in the past. Along with like-minded business ventures such as Dalberry and Pragmatic Play, the rebranding initiative from RiverPlay will help rendering a global edge to the acquisition strategy of the IBID mastermind.
The growth horizons for RiverPlay have been widened, with the welcome endeavour of tying the threads with IBID and rebranding to Pragmatic Solutions. With the rationale of mutual growth and sharing upheld by the group in all its mergers and acquisitions, Pragmatic Solutions is all set to reinvent its brand to a diversified and dynamic market.