Bwin.party sells Ongame Network
Monday, 1 October 2012
Bwin.party digital entertainment has sold the Ongame Network to the the Montreal-based Amaya Gaming Group for an initial consideration of €15m. A further €10m will be paid should online poker in the USA be legalised within the next five years. Sites one the Ongame Network include Unibet, Betfair and Sportingbet.
"Amaya looks forward to unleashing Ongame's technology to its full potential through the leveraging of our many B2B relationships and delivering new partners and players to the network,” said Amaya CEO David Baazov. “The Ongame platform is scalable, proven and secure and is well suited for quick deployment in new regulated markets. We're excited about the wide range of opportunities this acquisition makes possible for us as we execute on our vision."
"The sale of Ongame conforms to our strategy, especially as we move closer to launching our single, proprietary technology platform in the next few months,” added Jim Ryan and Norbert Teufelberger, the Co-CEOs of bwin.party. “We believe Ongame will fit well into Amaya Gaming and has an excellent future ahead."
Gaming provider Shuffle Master had a temporary agreement to buy the network in February but pulled out of the deal three months later.
Ongame is still the 5th busiest network/site according to PokerScout.com. It will lose traffic before the deal is completed with bwin players migrating to PartyPoker.
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