BETandWIN acquisition of Ongame (update); Share purchase agreement signed
Following up on last week's news, BETandWIN announced this weekend that it had inked a Share Purchase Agreement for a 100 percent stake in online poker solutions provider Ongame. If all goes as planned, the acquisition is expected to be completed in early 2006. The acquisition price agreed upon is 5.37 times Ongame's net revenues for the current fiscal year, or approximately €473.6 million ($569 million USD) in total.
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