19
MAR

An increase in the offer to Boss Media:

Written by: Nikola Zugic on 19/03/2008 10:00

The revised and increased offer by GEMed has been recommended by the board of directors of Boss Media. Boss Media is a major online bingo provider that has boosted its sales by 32% to SEK a share. This has led to the value of the company being increased to Euro 149 million.

 

As the Boss’s directors had stated that the previous offer made in February was undervalued, there was a rumor that other bids were in the process. With the revised offer, Boss CEO Tiveus said that the merging of Boss Media and GTECH is a sound venture as they have the prerequisites for creating a competitive and superior alternative in the expanding industry of online bingo.

 

With the revised cash offer of GEMed, the shareholders in Boss Media get a higher price for their shares when compared to the share price before the initiation of the process. The CEEO of the parent company of GEMed, GTECH, Jaymin B. Patel stated that they were pleased that their revised offer had received unanimous endorsement from the Board of Boss Media. In fact, they are eager to work together with Boss Media, to accelerate its international growth strategy.

 

It was just some time back that Boss Media had voiced its intentions to expand its presence in the online bingo games market in the next year. However there are a few Scandinavian gaming companies that are apprehensive on prospects of free online bingo company and have placed emphasis on targeting the female customers who play online bingo.

 

Bingo news from bingo reviewer.

 

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