LISTED DFNN, Inc. said it will conduct a quasi-reorganization to remove the deficit in its retained earnings, as the information technology solutions provider moves to declare dividends soon. In a special board meeting last Friday, DFNN’s board of directors approved the issuance of 8.31 million common shares to existing shareholders through a debt-to-equity conversion. “The…
DFNN Inc. on Friday said it posted an income for the six-month period ending June, partly as a result of more than doubling its revenues for the period, as it focused its efforts on serving the gambling industry. The company said in its report that its income was at P2.8 million, a turnaround from last…
MANILA, Philippines – Diversified Financial Network Inc. (DFNN), the country’s leading IT solutions provider, systems integrator and provider of gaming technology products, services and solutions, has a new chief operating officer (COO) in Ricardo “Ricky” Banaag. Banaag was Intel Philippines’ country manager for over 16 years. DFNN focuses in 2015 to expand its electronic gaming…
MANILA, Philippines—The state-owned Philippine Charity Sweepstakes Office has agreed to go into arbitration of its dispute with listed information technology solutions provider DFNN Inc. over a wireless lotto betting contract that was scrapped during the Arroyo administration. In a disclosure to the Philippine Stock Exchange on Friday, DFNN said it had received a letter from…
Technology firm DFNN Inc. is scaling up its interest in the lucrative gaming business by acquiring 25-percent direct stake in Inter-Active Entertainment Solutions Technologies Inc. (IEST), provider of betting and gaming solutions to the state-owned Philippine Amusement and Gaming Corp. (Pagcor). The proposed investment in IEST, an investee company of DFNN’s subsidiary Pacific Gaming Investments,…
THE DIVERSIFIED Financial Network Inc. (DFNN) group has given London-based Betfair International ENC the option to acquire a 40-percent stake in an overseas unit involved in the gaming business. In a disclosure to the Philippine Stock Exchange, DFNN said Betfair would have the option to acquire the strategic stake in Interactive Entertainment Solutions Technologies (IEST),…
MANILA, Philippines – A plan by Singaporean technology services provider Fastech Synergy Ltd. to acquire 100 percent of locally listed Diversified Financial Network Inc.’s overseas gaming technology arm Pacific Gaming Investments Pte. Ltd. (PGI) for $91 million is experiencing rough sailing. DFNN revealed yesterday it received communication from Fastech that the proposed structure for the…
Diversified Financial Network Inc. (DFNN) said Wednesday its Singaporean unit Pacific Gaming Investments Pte. Limited will acquire a 90-percent stake in a Cambodian slot machine operator for $4.2 million. DFNN said Pacific Gaming has conducted a due diligence audit on Poseidon Co. Limited of Cambodia and decided to push through with its acquisition. From June…
(Business World (Philippines) Via Thomson Dialog NewsEdge) Publicly listed IT solutions provider and systems integrator Diversified Financial Network, Inc. (DFNN) has acquired a 33.33% stake in a Southeast Asian gaming company through its Singapore-based subsidiary. In a statement, the company said it bought into Interactive Entertainment Technology Solutions, a gaming company involved in event betting,…
Not even a sluggish stock market could prevent Diversified Financial Network, Inc. (DFNN.com) from undertaking an initial public offering as the company gears up for its expansion plans along global lines, the way information technology (IT) firms basically shape their businesses. DFNN.com earned yesterday the distinction of being the first fully operating web-based company to…