Listed gaming technology provider DFNN Inc. is allotting hundreds of millions of pesos as research and development (R&D) expenses this year in a bid to support the company’s long-term sustainability.
DFNN president and chief executive officer Calvin Lim said the company’s nine-digit R&D budget, the same as last year’s, comes as it seeks to focus on new technologies as driver for long-term growth.
In particular, DFNN is considering to venture into education technology in 2020 in line with its expectations of a double-digit growth in its financial technology segment.
“If everything goes well, then yes, it’s something we’ll get involved in,” Lim told reporters in an interview on Thursday last week.
He said the fintech segment will be among the key drivers for the company’s revenues this year, but added that the DFNN is on the hunt for the next vertical growth.
“We have a couple of ideas, opportunities, something that we’ll still need to wait and see.”
Meanwhile, Lim said DFNN is still working on the operational terms and conditions for the service deal it inked with US mobile lottery provider AutoLotto, Inc. through its unit Nico Bayan Inc.
The agreement, signed last year, enables Nico Bayan to be a Philippine offshore gaming operations service provider. Lim said DFNN is “not ready to go live yet”, adding it could still take some time for the company to finalize the terms and conditions for the service.
DFNN is primarily engaged in providing IT solutions including systems integration, programming and customization, consultancy and gaming development.
Source: https://tribune.net.ph/index.php/2020/03/02/dfnn-eyes-rd-investments/
