Online Bingo News
CASHCADE BUYS ONLINEBINGO.CO.UK AND THINK BINGO
02/08/2007Cashcade, the owner of online bingo site FoxyBingo.com, has acquired BVI-based Independent Technology Ventures, owner of ThinkBingo.com, Bingo Scotland and Think Bingo Plus. In a separate move, Cashcade has also purchased Herotech Limited, which owns the leading UK bingo portal OnlineBingo.co.uk and free bingo game Bingo4Free.co.uk.
The total consideration for the two acquisitions was £13.5m and Cashcade will use them to further strengthen its online bingo market share.
Commenting on Cashcade’s online bingo acquisitions, Patrick Southon, Managing Director of Cashcade, said: "These acquisitions are an important step forward in our continued growth. Think Bingo was the UK’s first standalone bingo site and today it remains one of the most established. Together with Foxy Bingo and the OnlineBingo.co.uk portal, we can now offer our customers a wider product selection and position ourselves at the forefront of the emerging online bingo industry.”
Cashcade has been active in the gaming space for over six years and in that time has been active as both a software developer and marketing organisation. Most recently the company has focused on building its own leading gaming brands such as Foxy Bingo and Getminted. Cashcade also offers a managed online bingo service solution for clients including the Daily Mirror, SMG, AT The Races and Emap.
The business is privately owned with investors including IN&M (owners of the Independent Newspaper).
Written by Ben Starr.
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