Glitnor Group and KaFe Rocks said they had “mutually and amicably” decided to call off a planned merger given market conditions.

KaFe Rocks, a remote working iGaming affiliate, will continue to be managed by its founding members and leadership team.

Glitnor Group will continue to have a significant shareholding in KaFe Rocks. The groups said in a statement that the recent decision for KaFe Rock and its CEO Simon Pilkington to part ways is not related to dropping the merger.

The two companies announced their plans to combine in February, without giving any financial details.

At the time, Glitnor said the move strengthens Glitnor Group’s position and helps the group get closer to its ambition of becoming a leading iGaming group in the