Monday June 30,2014 : DANSKE SPIL ACQUIRES MAJORITY SHAREHOLDING IN GAMES DEVELOPER
Danish state monopoly bags 60 percent of CEGO.
The former Danish state gambling monopoly Danske Spil appears to be strengthening its in-house online gambling content development facilities with the acquisition of 60 percent of the stock of Aalborg-based games supplier CEGO Limited for an undisclosed consideration last week.
The agreement includes a provision that the current owners will stay on board and manage operations going forward from the Aalborg studios, which draw IT talent from a nearby university.
CEGO has enjoyed success with its games website Spilnu.dk, according to local media reports, which quoted CEGO's chief Mads Peter Veiby as being positive about the takeover and the valuable synergies it creates for both parties to the deal.
Veiby is respected in Denmark as the driver of telecommunications company M1, which was acquired by Telmore and has since become a part of Telmore brand. He is also a permanent panelist in TV2/Nords business magazine Business Club.