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GeoComply Announces Divesture of Core IP Rights and Related Assets of PlayPause From Its Conscious Gaming Subsidiary to IXUP
Monday, October 17, 2022Company Profile | Careers | Follow Company
PlayPause Transferred by GeoComply subsidiary Conscious Gaming to IXUP
Vancouver, BC, October 17, 2022--(T-Net)--GeoComply announced today that it is divesting the core intellectual property rights and related assets of PlayPause from Conscious Gaming to IXUP, and dissolving its Conscious gaming subsidiary.
GeoComply established Conscious Gaming as a 501(c)(3) non-profit in 2020 to enhance responsible gaming and sports integrity solutions in gaming through PlayPause.
The parties initially launched PlayPause as an innovative tool designed to modernize and strengthen the effectiveness of the iGaming and online sports betting industry's responsible gaming programs.
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GeoComply says in a release that it has now announced the transfer of PlayPause to IXUP and the dissolution of Conscious Gaming, but GeoComply's corporate social responsibility department, IMPACT, will continue to drive responsible gaming programs and initiatives.
All proceeds from acquiring PlayPause's intellectual property rights and assets will be donated to Responsible Gaming non-profits and programs, according to the company.
Anna Sainsbury, GeoComply Co-founder and CEO, states, "As a technology company that originated out of the gaming industry, advancing player protections is of central importance to us at GeoComply. IXUP's acquisition of PlayPause is an exciting step in the future of responsible gaming. We are proud to see PlayPause live on with a trusted partner, and GeoComply will continue to drive player well-being and sustainability across the industry through IMPACT."
IXUP joined the PlayPause project as a technical partner in October 2021.
"The application of IXUP's world-leading secure data collaboration technology presents a unique opportunity for us to develop a suite of independent and industry-wide betting compliance and integrity solutions," said Julian Babarczy, Chairman at IXUP. "These solutions focus on tackling the growing social issues related to gambling and gaming worldwide. The need for these products is immediate, and we are encouraged by the engagement we are currently seeing."
About GeoComply
Founded in 2011, GeoComply provides fraud prevention and cybersecurity solutions that detect location fraud and help verify a user's true digital identity. Our award-winning products are based on the technologies developed for the highly regulated and complex U.S. online gaming and sports betting market. Beyond iGaming, GeoComply provides geolocation fraud detection solutions for streaming video broadcasters and the online banking, payments, and cryptocurrency industries, building an impressive list of global customers, including Amazon Prime Video, BBC, Akamai, Sightline, DraftKings, FanDuel, and MGM.
The company's software is installed on over 400 million devices worldwide. It analyzes over 3 billion transactions annually, placing GeoComply in a position to identify and counter current and newly emerging fraud threats.
GeoComply's solutions incorporate location, device, and identity intelligence and advanced machine learning to detect and flag fraudulent activity. By integrating GeoComply's solutions into their processes and risk engines, organizations can identify fraud earlier in a user's engagement, better establish their true digital identity and empower digital trust.
© 2022 GeoComply Solutions Inc. GEOCOMPLY and the GeoComply logo are registered trademarks of GeoComply Solutions Inc. in Canada, the United States, and/or other countries. Other names or logos mentioned herein may be the trademarks of GeoComply or their respective owners. The absence of the symbols ™ and ® in proximity to each trademark, or at all, herein is not a disclaimer of ownership of the related trademark. All rights reserved.
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