Canadian turnkey provider Chartwell Technology Inc. completed the
acquisition of the successful and growing poker software developer
Micropower Corporation of Gibraltar as we went to press this week,
early reports suggesting that the price was $4 million.
Founded two years ago, Micropower has quickly established a brand
that is synonymous with multi-player poker technology. Some of the
biggest names in the online and iTV worlds have chosen the company's
poker software including ESPN (Sports Television Network), NTN (iTV
Games Network), FHM (UK Men's Magazine), Easybets and BoDog.com.
The acquisition enables Chartwell to offer a dynamic, multi-player
poker software solution complete with single and multi-table tournament
functionality, frequent player points, uploadable player images and
integrated player stats.
The software also presents an array of unique features including live
dealers, in-game advertising and three to six table play, all designed
to increase player loyalty and length of play, all in a suite that
includes some of the most popular games such as Texas Hold'em, Omaha,
Omaha Hi/Lo, 7-Card Stud, 7-Card Hi/Lo, 5-Card Stud and 5-Card Draw.
In company with Chartwell's casino, mobile, bingo, kiosk and soft-game
line-up, the new poker component is built on an expandable and scalable
platform, allowing for the integration of new games as required.
Chartwell CEO Darrold Parken says, "Growth of the online
poker market has been exceptional - the strategic television marketing,
passage of the UK Gaming Act and the movement toward further regulation
in other jurisdictions will continue to drive the growth of this market.
We recognized that while our overall product suite is very strong,
our poker software capabilities needed significant enhancement to
quickly capitalize on opportunities.
"The Micropower acquisition provides a huge boost to our software
product line and our future development capabilities and will provide
the impetus for the next phase of Chartwell's growth.
"Equal in importance to the new poker software product are the
very talented people that Chartwell has gained through this acquisition
and it is with great pleasure that I welcome over 20 key development
specialists to the Chartwell poker team," Parken concluded.
Available in a wide range of languages, the new Chartwell multi-player
poker product uses the latest in client/server encryption and has
been independently certified by the world's premier game-testing laboratory
-TST (Technical Systems Testing). Gameplay is effectively maintained
through a robust back office management system complete with all the
tools necessary to manage a successful poker game environment.
The new poker offering will seamlessly integrate with the Chartwell
gaming system and with existing client platforms for stand-alone or
community deployment allowing Chartwell to remain a pure software
provider to many of the world's largest gaming brands.
The acquisition terms include contingent consideration based upon
certain new Micropower business opportunities. The total contingent
consideration will not exceed $500,000 and 55,000 Chartwell shares.