Europe’s largest betting and gaming operator has signed an agreement with YooMedia to acquire the gaming channel Avago and its database of over 250,000 registered customers for a consideration of between £5.1m and £8.05m, depending on performance over the initial period.
Gala intends to re-brand Avago and re-launch it by the end of the third quarter of 2006. Yoomedia will continue to have a prominent interest in the business, as well as continuing to provide its interactive gaming portal behind the channel, and will reinvest the proceeds of the agreement in the other parts of the group and as general working capital requirements.
Gala Chief Executive Neil Goulden said the group was delighted to be entering the dynamic world of interactive television
“This project will form a key part of Gala’s expanding multi-media strategy. It will also allow Gala to promote its brand to a new audience across both the digital satellite and cable platforms in the UK.”
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