Gaming Realms to acquire Blueburra Holdings
Online gaming products publisher Gaming Realms has conditionally agreed a deal to purchase specialist eGaming marketing company Blueburra Holdings, the operator of the Bingoport.co.uk affiliate website, for up to £10.5 million (€13.2 million/$17.5 million).
The deal will include an initial consideration of £5 million to be satisfied by an equal split of cash and new ordinary shares issued at £0.33 each.
The remaining consideration will be paid over the next three years, subject to the fulfilment of various earn-out targets and adjustments. These payments will comprise an additional £2.75 million in cash and £2.75 million through the issue of ordinary shares.
Blueburra, the holding company of marketing company Digital Blue, also owns a number of other Dragonfish-powered white label bingo skins.
Gaming Realms said that the acquisition is consistent with its long-term strategy to increase the combined database of its subsidiaries and enhance its revenues by focusing on product and marketing initiatives.
“The skills and aptitudes of Blueburra Holdings will complement and significantly enhance our overall marketing capabilities when combined with our recent acquisition of Quickthink Media, which has been successfully integrated into the Group,” Gaming Realms chief executive Patric Southon said.
“Blueburra Holdings will boost our product and marketing initiatives to target the fast growing and overlapping audiences using mobile and tablet platforms which, in turn, will help to accelerate the Group's future revenue growth.”
Scott Logan, co-founder of Blueburra Holdings, added: “The Blueburra Holdings marketing approach to optimising player engagement fits well with Gaming Realms's model of generating optimum and maximum player values across multiple platforms.
“Combining our capabilities and successful brands with those of Quickthink Media will enable the expanded group to increase the number of real money players and revenue growth.
“Our ambitions are aligned with those of Gaming Realms and we believe that the acquisition will create long term value for the group.”
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