BEIJING, China, Feb. 20 /Xinhua-PRNewswire/ -- PacificNet, Inc. (Nasdaq: PACT), a leading provider of gaming technology, Customer Relationship Management ("CRM") and e-commerce in China, announced today that its Octavian International Limited ("Octavian") subsidiary has appointed gaming industry veteran Peter Moffitt as President.
Following its acquisition last month by PacificNet, Inc., Peter Moffitt has joined Octavian International as President, a position created by Octavian in order to strengthen its management team.
Moffitt joins from the Unicum Group of Companies where he held a number of senior positions, the most recent being Vice President (Product Development) and Chief Technology Officer. Before that he founded the Sydney-based Bounty Ltd., a leading gaming systems developer where, as CEO and CTO, he was in charge of pre-IPO company development and led the company to four major Business and Export Awards. During this time he was also Managing Director and Chief Technology Consultant at Odyssey Gaming Technology in Australia.
"We are very excited to add Mr. Moffitt to our management team," said Harmen Brenninkmeijer, Chief Executive Officer of Octavian. "The addition of Mr. Moffitt as President further strengthens the Octavian management team to ensure that Octavian and PacificNet meet their growth objectives in the global gaming market. Peter's experience will help ensure that we hit each of the milestones that have been set and help us focus on delivering our long-term growth strategy."
Harmen added, "At Unicum, Peter was extremely successful in streamlining the development of systems and games, achieving a 400% increase in game output while also improving quality of development. Peter has vast experience in the global gaming market and in leading smarter technology development and process refinement. Peter also played a major role in the merger of Unicum and SmartGames and that experience will also be invaluable as we embark on the next stage in Octavian's growth."
Following the deal with PacificNet, Octavian is to continue to operate under its own name, working independently and also collaborating with other PacificNet gaming subsidiaries such as PactGames and Take1 Technologies.
Mr. Moffitt will be responsible for the technical, R&D, production and delivery functions within Octavian's worldwide systems, games and supplies operations, a role which will entail directing development and project teams in Australia, India, Russia and the UK.
Mr. Peter Moffitt stated, "I am joining Octavian at an extremely exciting point in its development, and at a time when the global gaming market presents huge potential for growth for innovative companies such as ours. We have an extremely strong portfolio of systems, games and supply solutions, and many exciting plans to develop and customize this portfolio further to meet the needs of clients in existing and new markets."
About PacificNet
PacificNet, Inc. (Nasdaq: PACT) is a leading provider of gaming and mobile game technology worldwide. Having established itself with e-commerce and Customer Relationship Management (CRM) solutions for the Chinese market, the company has diversified to focus on systems and games development for the global gaming market. Through its highly experienced gaming subsidiaries including PactGames, Take1 Technologies and Octavian International, PacificNet is able to offer world-leading solutions in casino equipment supply and the development, installation and support of systems and game content for the casino, lottery and AWP markets. Positioning itself as the systems integrator for the gaming industry, with a special focus on the emerging markets, PacificNet enables customers to integrate gaming operations, linking electronic gaming machines, tables and larger networks so that operators can build efficient and highly attractive gaming operations that drive revenue growth and profit opportunity for operators and enhance the customer experience. PacificNet's gaming clients include leading hotels, casinos, and gaming operators in Asia, Europe, Latin America, Russia and other gaming markets around the world. The company employs around 1,800 staff in its various subsidiaries with offices in Argentina, Australia, China, Colombia, Germany, Hong Kong, India, Italy, Russia, Ukraine, UK and the US. For more information please visit http://www.pacificnet.com and http://www.octavianinternational.com .
Safe Harbor Statement
This Company's announcement contains forward-looking statements. We may also make written or oral forward-looking statements in our periodic reports to the SEC on Forms 10-K, 10-Q, 8-K, etc., in our annual report to shareholders, in our proxy statements, in press releases and other written materials and in oral statements made by our officers, directors or employees to third parties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, PacificNet's historical and possible future losses, limited operating history, uncertain regulatory landscape in China, and fluctuations in quarterly and annual operating results. Further information regarding these and other risks is included in PacificNet's Form 10K and other filings with the SEC.
