Shuffle Master to Buy Ongame Network LTD
05 March 2012
In a press release today, Shuffle Master announced today that it will acquire B2B online company Ongame Network LTD from bwin.party services. Ongame is one of the largest online poker providers with over 25 of the iGaming strongest brands.
Gavin Isaacs, Chief Executive Officer of Shuffle Master said;
“Our acquisition of Ongame will allow Shuffle Master to offer a scalable, proven and secure solution for online poker. Immediately upon closing the transaction, we will be able to begin leveraging all of Ongame’s experience and expertise in iGaming. I am confident that Ongame will fit seamlessly into our ongoing interactive initiatives of delivering our renowned brands to online gaming operators, partner web sites, social networks and mobile platforms. Poker is a natural fit for our table-centric online offerings and our many jurisdictional licenses present a compelling opportunity for our current and future online customers. This acquisition is further evidence of our great momentum as we continue to execute on our core businesses and pursue our strategic objectives for future growth. We look forward to Ongame joining the Shuffle Master family and we welcome them on board.”
Peter Bertilsson, Managing Director of Ongame said;
“Shuffle Master is renowned for offering its customers a unique and diverse suite of products designed to meet the needs of today’s online operators and casinos. We believe that our experience and expertise in the European market is a natural fit with Shuffle Master’s considerable commitment and history in developing innovative games and products for land based operators. I am confident that together, our organizations are going to be able to develop the very best in new and innovative solutions for the iGaming market.”
Shuffle Master will pay euro $15 million in cash, and euro 10 million in cash within five years of closing based on the legalizing poker in the United States with those 5 years.
You can read the entire press release here.
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