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Bids, Mergers and Takeovers

32Red acquires gaming business Roxy Palace for £8.4m

14 July 2015 07:23

32Red has acquired the remote online gaming business known as Roxy Palace for total consideration of £8.4m comprising £2.0m in cash and the issuance of 10,000,000 new shares of 0.02p each.

32Red has purchased the customer database, intellectual property rights and certain other assets used in connection with the Business 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 (the "Sellers").

Other service companies associated with the Sellers will continue to provide services to the Buyer following Completion. The deal is expected to be immediately earnings accretive before synergies.

Story provided by StockMarketWire.com

Related Company: TTR

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