Bowmans sold

[jetset]

ONLINE GAMBLING GROUP ACQUIRED BY MOBILE GAMING SOLUTIONS PLC


Bowmans Holdings Limited deal signed


According to a press release from the technology and service provider for mobile and interactive TV gaming Mobile Gaming Solutions plc, it is about to acquire online gaming group Bowmans Holdings Limited for an undisclosed amount.

The two companies reached agreement on August 10, and subject to the approval of MGS shareholders the deal will shortly be finalised.

Bowman Holdings is a pioneer in online gaming and related services under the hansagaming brand, today mainly directed towards European, South African and Asian online poker, casino and bookmaking operators, with offices in Isle of Man, Mauritius and Curacao.

The acquisition enables MGS to tap into new regional markets and customer segments as well as distribution channels, and further expand its gaming solutions programme already established in the SMS gaming market. MGS additionally intends to cross-utilise R&D capacities and expertise between the companies, thus improving the efficiency in product development and pre-launch testing. Positive impacts on turnover and performance are expected latest in the beginning of 2008, the company claims.

"We are very happy about this agreement, Bowman Holdings is a recognised company in this industry", said Juha Kiikeri, CEO of Mobile Gaming Solutions. "Both companies are set to benefit significantly from this transaction, and not just on the balance sheet.

"We anticipate that the combined wealth of experience will have a significant positive impact on both companies. Bowman Holdings operating as a licensed provider of online gaming solutions compliments our business profile perfectly, whilst at the same time we are able to position ourselves in the industry as an integrated 'One Stop Shop' provider for both online and mobile gaming solutions and to further develop our innovative gaming products.

"Further, the existing gaming operations of Bowman Holdings are a perfect real live testing environment for any new products that we develop", Kiikeri concluded.