Boss Media Shares Increase in Value after Offer - 02-05-08
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February 5 - The share price of Swedish-based online gambling software provider,
Boss Media, increased following the recent news that GEMed AB, a subsidiary of
leading gaming technology and services company, GTECH, made a bid to buy the
company.
Boss Media shares climbed by a massive 25 percent following a SEK 19 per share
cash offer from GTECH, which owns 87.5 percent of GEMed AB, and Medstr?which
owns the remaining 12.5 percent of the company.
The share increase pushed the value of Boss Media to approximately Euro 105.6
million. The company has made clear its intentions to expand its current
offerings to include promoting bingo games to the growing Scandinavian online
bingo market.
At the end of 2007, the Boss Media Board of Directors were approached by many
parties interested in acquiring 100 percent of Boss Media shares.
GTECH agreed
to participate in a process to ensure the equal treatment of all interested
parties and the best possible outcome for Boss Media shareholders.
Currently, the Board of Directors of Boss Media is awaiting a recommendation
from HDR Partners to accept the offer from GEMed AB or not.
