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GSN Games will acquire Bash Gaming
Wednesday February 25,2014 : GSN GAMES ACQUIRES BASH GAMING
Creator of hit game Bingo Bash capitulates
GSN Games will acquire Bash Gaming, the creator of the hit social bingo game "Bingo Bash", for an undisclosed consideration.
Bingo Bash claims 4.8 million monthly active users playing across Facebook, iOS, Android and Kindle devices allowing GSN Games to build on its own skill games platform for real prize tournaments by leveraging Bash Gaming's multi-player technology.
"This transaction will not only strengthen the GSN Games portfolio, it supports our strategy of building a diverse business, operating across all major platforms, with a broad portfolio of titles in both social casino and skill tournament genres," said Jeff Karp, executive vice president, mobile and social games, GSN Games.
"With the Bash Gaming acquisition, we will expose our millions of social casino players to the Bingo Bash experience, while introducing existing Bingo Bash players to our highly engaging games including Wheel of Fortune® Slots and Deal or No Deal™ Slots. We will leverage the strength of our respective organizations, including talent, reach and technology, to build a gaming powerhouse."
"We're excited to become part of GSN Games, one of the early pioneers in social casino who continues to lead the space today," said Sumit Gupta, founder and CEO, Bash Gaming. "I'm very proud of what our team has accomplished, creating the world's #1 bingo game, and with this new strategic partnership, we are poised to deliver our games to millions of additional players."
However, the road to the acquisition has reportedly been fraught with GSN initiating contractual fraud litigation against Bash Gaming towards the end of last year. An acquisition deal between Bash Gaming and GSN for $160 million, which was initiated in mid-2012, apparently collapsed after Bash Gaming wanted to accept another acquisition offer for a greater amount.
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