Boss Media AB forms Strategic Partnership with CryptoLogic Limited
Boss Media AB and CryptoLogic Limited have entered into a strategic Internet poker agreement. CryptoLogic will merge its major poker customers with Boss Media’s International Poker Network (IPN) within the first quarter 2009. The agreement is in line with CryptoLogic’s recently announced growth strategy to focus on its popular branded games and Internet casino business. This migration of CryptoLogic’s poker operations and customers to the Boss Media network, together with other actions, will help generate significant cost savings for CryptoLogic; estimated at 12-15 million USD per year.
“CryptoLogic’s aggressive action on its new strategy, as witnessed in several recent announcements – and our new agreement with Boss Media, is a major step in our journey back to growth, profitability and returning shareholder value,” said Brian Hadfield, CryptoLogic’s President and CEO. “This partnership provides our poker customers with access to one of the largest poker networks in the world, while helping CryptoLogic reduce costs substantially. Also, it will allow us to focus on the continued development and licensing of the Internet’s most innovative casino games, and to leverage our lead in branded content games in partnership with the world’s top entertainment brands.”
Boss Media AB is a subsidiary of GTECH Corporation, one of the world’s leaders in gaming technology and services companies.