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Entraction subsidiary to sell assets to iGame
[April 14, 2009]

Entraction subsidiary to sell assets to iGame

Apr 14, 2009 (M2 EQUITYBITES via COMTEX) -- Swedish online gaming company Entraction Holding AB (STO:ENT B) said on 14 April 2009 its subsidiary Casagaming, operating the sites and, has signed a letter of intent (LOI) to sell its assets to iGame.

Casagaming's assets, i.e. domains, customer registry and brands, are worth EUR4.5m (USD6m), of which Entraction's share is EUR2.6m. A total of EUR285,000 of that amount is an earn-out to be paid on 31 July 2010 in case that certain conditions are fulfilled.

Following the transaction, Entraction will complete its streamlining to focus on being solely a supplier of products and services for Internet gaming.

Sector: Internet/Online Services Type: Assets sale Target: Casagaming Ltd assets Buyer: iGame Ltd Vendor: Casagaming Ltd Status: LOI Comments on this story may be sent to [email protected]

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