This is major news today. It has just been reported that Playtech have just bought the online bingo software giant Virtue Fusion for a reported £36 million. This is a massive thing and it will mean that Playtech will be able to strengthen their position in the online bingo world. Some are worried that Playtech will lower the standard of the Virtue Fusion brand and they feel that Playtech is not in the same league as Virtue Fusion.
Virtue Fusion according to a press release has been compared to the luxury Jaguar car and it is hope that the acquisition by Playtech will enhance the quality of this great bingo software using the excellent characteristics of the Playtech software. There is no clear information as to what is to happen but I’m sure the valuable features of both of these software products will be combined to create an outstanding online bingo software.
The agreed deal between the two companies will see Playtech pay an upfront sum of £29 million with an earn out of £7 million which is subject to the EBIT performance in Q1 2011. This deal places Playtech in the leading position in international online bingo markets and it will also complement their leading position in the online poker and online casino industry. It also reflects Playtech’s ongoing commitment to provide licensees with a comprehensive portfolio of the best gaming products.
Virtue Fusion supply online bingo software to some of the most popular online bingo websites and these include Mecca Bingo, Ladbrokes Bingo and William Hill Bingo. Playtech also have some popular online bingo websites too including Bingo Day and Betfred Bingo. It is not clear yet what is planned for the Virtue Fusion online bingo websites but I will be sure to keep everyone updated as soon as any more information becomes available.
If you play at any of the online bingo websites that use the Virtue Fusion software I’m sure there will be updates and announcements if there are to be any changes in the software being used or any changes to the online bingo games that are featured.
Until next time,
Watch Those Balls,
Tags: Playtech, Virtue Fusion
