DFNN to push through with CIC partnership this year

LISTED gaming technology provider DFNN, Inc. said its planned joint venture (JV) with Spain-registered information technology (IT) project development and engineering company Consulting Informático de Cantabria S.L. (CIC) will materialize this year.

DFNN President and Chief Executive Officer Ricardo F. Banaag confirmed the timeline and said the partnership is “pushing forward.”

“We’ll probably come up (with something) in the future. That is ongoing. We have regular collaborative meetings,” he told reporters on the sidelines of a media event in Taguig City last week.

Mr. Banaag said DFNN and CIC have already identified areas for collaboration but declined to provide specific details.

“Our partnership with CIC will touch many areas,” he said.

In March last year, DFNN formalized a strategic JV agreement with CIC to expand the latter’s Asian operations.

The total investment in the JV company is P12.5 million, with 60% or P7.5 million coming from DFNN and the remaining 40% or P5 million from CIC.

CIC provides digital transformation and technology solutions. Its products include the SGRwin network management system for managing complex multi-technology ecosystems and the FIELDEAS multi-device field service management platform, which enables full visibility and control for process digitalization and supply chain management.

Meanwhile, DFNN Executive Chairman Ramon C. Garcia Jr. said the company is seeing a 30% increase in lotto ticket sales following the introduction of the LottoMatik system, which caters to areas without existing lotto outlets.

The LottoMatik platform is a portable point-of-sale device designed to simplify the lotto ticket purchasing process.

“We are expecting at least a 30% increase, just by distribution. With this, we want to make it easier and give people a chance to have a micro-business while also contributing to charity,” he told reporters in a separate interview.

Mr. Garcia said DFNN aims to deploy 120,000 terminals of its LottoMatik platform.

Since its soft launch in November last year, the company has deployed 600 LottoMatik terminals, according to Mr. Garcia.

“We believe that this country, given our size, can accommodate up to 120,000 terminals easily due to our growing population,” he said.

DFNN shares were last traded on March 7 at P2.50 apiece. — Revin Mikhael D. Ochave