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Playtech buys Virtue Fusion
2010-02-15 13:03:03 | Written by: Carol Dian
Playtech, the online gaming software company powering many online bingo and casino websites, like Bingo Day and Ruby Bingo, has reported today it had bought Virtue Fusion, the bingo software company powering many online bingo sites like Bet365 Bingo, Mecca Bingo and Tea and Bingo to name a few.
Reuter’s news agency reported today that the acquisition was for the amount of up to £36million, with £29million paid and an extra £7million to be paid based on the company’s performance in 2010.
Playtech, who is one of the biggest online casino software companies in the world has given more and more attention to the online bingo market in the last 2 years, however it seems it hasn’t had the same success as its big competitors Virtue Fusion and Globalcom - which operates operating Wink Bingo and Moon Bingo among others.
With the enormous growth of the online bingo market in the last two years, this acquisition comes as no surprise and will enable Playtech to better compete in the bingo market.
There have been a lot of talks lately about Playtech’s newest online bingo site, Titan Bingo, which was reportedly in the final stages of preparations but was still not launched to date. It could very well be the site launch was delayed because of this specific acquisition, and could very well be that Titan Bingo will be the first website launched under Virtue Fusion software instead, no with Playtech being the new owner.
This acquisition adds to many other deals announced in the past year in the online bingo industry, signaling once again that this market is expected to continue growing even further.Related News
- 2009-12-09 | Virtue Fusion Embeds Social Networking
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