Orbis makes acquisition

12/18/2008		Orbis Makes Acquisition
Home History Games News Dictionary		As more and more deals are being struck between online gambling companies before years end, and those with past partnerships start some of the strongest agreements. For example, this week’s announcement that online casino software provider Orbis Technology will be taking over ownership and management of Electracade Ltd. The deal was agreed upon by both parties for the price of GBP 2.6 million. Electracade, which is a company that provides games unique to the Internet, has been linked to Orbis since the companies' partnership in 2004. I'M based Orbis did agree that the 2.6 million price may be added to in future years, if product and services warrant. The deal is a good one for Electracade, being picked up by a software provider as secure as Orbis. David Liveday made a statement as managing director of Orbis, dating they felt the time was right to exchange the existing partnership into an acquisition. He said, "Their strength comes from game play and understanding player requirements, and with our strength in game design it will make us more competitive. They bring new customers and will allow us to work with a broad range of technical platform providers.” Liveday also mentioned Electracade's strength in building games for third parties, stating it was an area that Orbis was very much interested in developing. He continued, speaking to the specific advantages for Orbis in working with the partners in an open environment. It provides an opportunity for operators to work with a range of software providers, and therefore gives their customers a plethora of online casino choices. Mark Paling built Electracade four years ago with the objective in mind of creating a wide selection of technologically creative games. His success is measured by his client base, which includes such major Internet casino websites as 888.com. For them, such perks as being inured on the NASDAQ stock exchange, and the NDS Group. NDS is expected to transfer out of the public market and into private ownership by 2009.

12/18/2008

Orbis Makes Acquisition

As more and more deals are being struck between online gambling companies before years end, and those with past partnerships start some of the strongest agreements. For example, this week’s announcement that online casino software provider Orbis Technology will be taking over ownership and management of Electracade Ltd. The deal was agreed upon by both parties for the price of GBP 2.6 million. Electracade, which is a company that provides games unique to the Internet, has been linked to Orbis since the companies' partnership in 2004. I'M based Orbis did agree that the 2.6 million price may be added to in future years, if product and services warrant.
The deal is a good one for Electracade, being picked up by a software provider as secure as Orbis. David Liveday made a statement as managing director of Orbis, dating they felt the time was right to exchange the existing partnership into an acquisition. He said, "Their strength comes from game play and understanding player requirements, and with our strength in game design it will make us more competitive. They bring new customers and will allow us to work with a broad range of technical platform providers.”

Liveday also mentioned Electracade's strength in building games for third parties, stating it was an area that Orbis was very much interested in developing. He continued, speaking to the specific advantages for Orbis in working with the partners in an open environment. It provides an opportunity for operators to work with a range of software providers, and therefore gives their customers a plethora of online casino choices.

Mark Paling built Electracade four years ago with the objective in mind of creating a wide selection of technologically creative games. His success is measured by his client base, which includes such major Internet casino websites as 888.com. For them, such perks as being inured on the NASDAQ stock exchange, and the NDS Group. NDS is expected to transfer out of the public market and into private ownership by 2009.