Chartwell Completes Acquisition of MICROPOWER Corporation
Chartwell Technology Inc acquires online poker software developer for approximately $4 million
Friday 27th May 2005
Chartwell Technology has announced that it has completed the acquisition of one of the premier online poker software developers, MICROPOWER Corporation of Gibraltar, for approximately $4 million.
MICROPOWER Corp. was founded in 2003 and has provided poker software to the likes of ESPN (Sports Television Network), NTN (iTV Games Network), UK Men's Magazine FHM, Easybets and BoDog.com.
The new poker offering hosts an entire suite of today's most poker card games including Texas Hold'em, Omaha, Omaha Hi/Lo, 7-Card Stud, 7-Card Hi/Lo, 5-Card Stud and 5-Card Draw. As with Chartwell's casino, mobile, bingo, kiosk and soft-game line-up, the new poker offering is built on an expandable and scalable platform, allowing for the integration of new games as required.
In order to quickly achieve a stronger competitive position in poker software development, Chartwell canvassed numerous acquisition candidates and concluded that the MICROPOWER solution was the best poker software system currently available. The MICROPOWER multi-player poker solution is built around scalability, reliability and security and has been proven in high traffic online environments.
“Growth of the online poker market has been exceptional,” stated Darold Parken, President and CEO of Chartwell, “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.”