Octavian International Ltd. announced yesterday that it has completed a reverse merger with HouseFly Inc., a publicly traded shell company.
Upon closing the reverse merger, the United Kingdom systems developer and solutions provider for casino, lottery and amusement-with-prize markets has changed its corporate name to Octavian Global Technologies Inc.
During that same period, the company has completed a private placement to institutional investors for gross proceeds of $13 million.
“Our strategy has always been to seek out and nurture opportunities in growth markets across the gaming world,” said Harmen Brenninkmeijer, chief executive of Octavian. “Now, with strong backers, we can capitalize on those opportunities and take Octavian to the next level.”