BOOKMAKER PADDY POWER has agreed a deal to purchase CT Networks Limited, a games and software development firm incorporated in the Isle of Man that trades under the moniker Cayetano, for an undisclosed sum.
The acquisition follows the signing of a games supply deal between the two in June. Dublin-based Paddy Power stated that consideration for the deal is to be capped with the majority ???payable subject to performance over the next number of years??™. Cayetano, which reported net assets of /160,000 as of October 31, provides online casino software to some of the iGaming industry??™s biggest brands including SkyVegas.com and utilises a team of developers and graphic designers based in the Bulgarian capital Sofia.
"This is a great step for Cayetano and its team,??? said Nick Maughan, Chief Executive Officer for Cayetano, which has been in operation since 2009. ???We??™re all excited at the prospect of being part of Paddy Power, a business whose success in this market has been built on an e...[more]
