Tuesday July 14,2015 : ONLINE CASINO FIRM 32RED BUYS ROXY PALACE BUSINESS
Company paid £8.4 million for internet casino business.
The UK online gambling group 32Red plc announced Tuesday that it has acquired the remote online gaming business Roxy Palace for a total consideration of £8.4 million, comprising £2 million in cash and the issuance of 10,000,000 new Ordinary Shares.
32Red has purchased the customer database, intellectual property rights and certain other assets used in connection with Roxy Palace via the acquisition of the entire issued share capital of Eucalyptus Investment Limited, a wholly-owned subsidiary of Hyperlink Media Limited and Applied Logics Limited.
Other service companies associated with the sellers will continue to provide services to 32Red following completion of the deal, which is expected to be immediately earnings accretive before synergies.