PokerStars Goes Mobile with Cecure Gaming Acquisition17th November 2009 9:16 am GMT
In a move to expand its world-leading online poker room into the burgeoning mobile gambling sector, online gaming operator PokerStars has acquired Cecure Gaming, the mobile games developer and operator of the Aces Royal gaming brand.
Cecure develops software and other products which enable the company or its licensees to offer real money gaming services to customers via mobile devices. Until its entry into administration in July of this year, the company was responsible for operating its own Aces Royal gaming brand, as well as the World Poker Tour mobile and Ladbrokes' Poker Million Mobile brands.
Cavendish Corporate Finance LLP was appointed by administrators to find a buyer for the business, which was expected to be of interest to Cecure Gaming rivals Probability, mFuse and Cellectivity.
In confirming the sale of Cecure to PokerStars, Cavendish said that Cecure had been placed into administration as a result of a "weak customer recruitment strategy in the difficult prevailing economic climate."
"We are delighted to have been able to secure a deal for the sale of these assets in such a secretive and clandestine market," said Paul Herman, the Cavendish partner who led the sale. "Accessing buyers and investors in the gaming market is notoriously difficult and we are delighted to have had the opportunity to meet and negotiate with many of the leading domestic and international players."
No financial details relating to Cecure's sale to PokerStars have been disclosed at this time.