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Stride Gaming To Acquire InfiApps
Friday July 31,2015 : STRIDE GAMING INKS DEAL TO ACQUIRE MOBILE SOCIAL GAMING FIRM
Online gambling company is prepared to pay $39.2 million for InfiApps.
Internet gambling company Stride Gaming has agreed a $39.2 million deal to acquire mobile social gaming developer InfiApps, the consideration to be paid in a mix of $21.2 million in cash and an earn-out payment of a further $18 million in cash contingent on InfiApps meeting certain performance targets over the next two years.
InfiApps attracted attention earlier this year when its flagship casino game, Slot Bonanza passed the 5.2 million downloads benchmark in continued global player interest.
The developer reported net profit before tax of $2.3 million in the first five months of 2015 and is on-track to beat a FY 2014 profit of $3.4 million.
CEO Ronen Kalmanson said that the combination of the InfiApps social gaming platform and the operational expertise of Stride will create an improved player experience and help grow both companies.
Eitan Boyd, chief executive of Stride Gaming, said:
“The addition of InfiApps widens our current portfolio of products and brands and will significantly enhance and diversify our player offering internationally, as well as provide access to new users and new geographies generating significant operational leverage.
“The acquisition is in line with our strategic objective of expansion through acquisitions, and also affords Stride Gaming a platform in which to take our online bingo product, over time, into the social gaming space."
PartyPoker Rakebak -
Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.
NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
NBA Odds: Wizards-Celtics at the Garden -
The Washington Wizards are making this a series. They’ve won back-to-back games against the Boston Celtics to knot this second-round matchup at 2-2 with Game 5 at the Garden on Wednesday. TNT has the coverage starting at 8 PM ET.
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