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CryptoLogic shareholder considers acquisition bid

2nd September 2011 8:34 am GMT

A major shareholder in online gaming software developer CryptoLogic Limited has expressed an interest in making an offer to acquire part of the business, which it sees as both undervalued and underperforming.

Thousand Hills Limited, a private investment firm based in the Isle of Man, currently owns 2.5m shares in CryptoLogic, equal to 19.9 per cent of the company’s share capital.

In a filing Thursday with the US Securities and Exchange Commission, Thousand Hills said it believes [...]

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