CryptoLogic Ltd. Takes Stake in Asian Game Development Company
12th December, 2007
CryptoLogic Ltd, the major software developer for Internet gambling has paid $6.1 million for a large stake in Mikoishi Studios, an Asain game development and design company. Mikioishi has some strong abilities to succeed in the mobile gaming market, according to CryptoLogic.
This investment "creates a Singapore-based strategic partnership that will accelerate the pace of CryptoLogic's penetration of the huge Asia-Pacific marketplace. The company expects revenue from the deal to add to its 2008 earnings," Cryptologic reports. The software company just recently moved their headquarters from Toronto to Dublin this past year. The company expects revenue from the recent deal to add to its 2008 earnings.
"Finding the right partners has been essential to CryptoLogic's dramatic growth in Europe, and it will be key to CryptoLogic's further growth in Asia." said CEO Javaid Aziz.
