Boss Media Shares Soar on Buyout News

Shares of Boss Media jumped 28.5 percent to SEK 19.40 Friday as the company announced that it has received a buy-out offer from GEMed AB, a company owned by GTECH (87.5 percent) and Medströms (12.5 percent).  The offer is for SEK 19.00, which would make the deal worth SEK 937 million. The acceptance period begins February 7 and runs through February 27.  Should all go smoothly, the shares will be purchased with cash on March 6.   

GTECH President and CEO Jaymin B. Patel said of the deal, “The acquisition of Boss Media is an important element of GTECH's growth strategy. At the same time, we view ourselves as being the perfect partner for Boss Media in accelerating the roll-out of their cutting-edge systems for internet-based gaming, as we can offer a global market presence and a customer base consisting of a significant portion of Boss Media's targeted leads. ” 

Boss Media provides the software for the International Poker Network, headlined by Yahoo! Poker and Paradise Poker.