Wednesday April 16,2014 : MR GREEN ACQUIRES DSRPTV AND SOCIAL HOLDINGS (Update)
Exercises option to acquire remainder of shares in mobile gaming and social network firm
Mr Green, through its Green Gaming Group subsidiary, is exercising its option to acquire all shares in DSRPTV and Social Holdings Ltd.
DSRPTV owns 21.1 percent of Garbo.com, a mobile gaming site targeted at the female demographic. The remaining 78.9 percent belongs to Derzhava Holding Limited, owned by Mr Green & Co chief executive officer Mikael Pawlo. A Euro 500 000 consideration is on the table for the remainder of shares in DSRPTV.
Green Gaming Group will acquire Social Holdings Ltd's remaining 58.15 percent shareholding for a maximum consideration of SEK 16.63 Million, including an additional purchase consideration. The initial payment will total SEK 2.22 Million. Green Gaming Group already owns 41.85 percent of the shares in Social Holdings.
Social Holdings Ltd owns Social Thrills AB, a company that recently launched social online casino Spin Tower Casino on Facebook.
“These are two companies focused on two strategically highly attractive target audiences. Garbo.com is aimed at women who mainly play on mobile devices – a niche the company is essentially alone in serving. Gaming on Facebook is growing rapidly and is an area where Social Thrills commands an excellent position,” said Pawlo. “There is considerable synergy potential between the two acquired companies and Mr Green, in terms of both marketing and i-gaming development.
InfoPowa readers will recall Marcus Nylén being appointed chief executive officer of the newly launched Garbo.com mobile casino in January 2014.
A conclusive decision on both transactions will be made at Mr Green & Co's Annual General Meeting on April 24, 2014.