Intralot Seeking Online Growth After CyberArts Investment4th December 2009 9:04 am GMT
In a stock market statement Thursday, Greece's Intralot S.A announced the acquisition of a 35% stake in CyberArts, the U.S-based interactive gaming platform provider. The investment supports the company's strategy of expanding the product offering of Intralot Interactive (I2), a new business launched earlier this year to reinforce its role in the regulated gaming industry.
Intralot said that the strategic stake in CyberArts would be a significant step towards expanding the online gaming capabilities of the Intralot group, in view of impending regulation in European and North American markets.
Under the strategic partnership, Intralot will also have the option to increase in stake in CyberArts to 51%.
"This strategic partnership increases I2's momentum towards shaping the future of interactive gaming and meeting the needs of interactive gaming operators in all regulated markets worldwide," said George Zenzefilis, General Director of I2.
"CyberArts proved tangible value can be delivered to operators through their best practices and combination of innovative technology and customer-centric approach. We eagerly anticipate working together with the CyberArts Management team and materializing this evidently very fitting partnership into global success."
The CyberArts' Foundation suite incorporates a wide range of gaming products including highly scalable poker, bingo, backgammon, Asian card games and other casino table games. The company provides an online poker platform for French lottery operator Française des Jeux, as well as Italy's Gioco Digitale, the first operator to enter the Italian poker sector twelve months ago.
"The new partnership with Intralot caps an exciting year for CyberArts. I2 is paving the way for the future of online gaming and we share the same vision as to what that is and how it will be achieved," said Ken Arnold, Chairman of CyberArts.
"CyberArts Foundation is the leading enterprise-grade, multi-player gaming software platform available in today's marketplace, and through Intralot's proven technology infrastructure, products and services, will offer new choices and further increase the value to our customers."
Shares in Intralot S.A (Co. Profile) (ASE:INLOT) fell 2.86% yesterday to currently trade at €2.86 per share in Athens.