Mytopia Acquired by Online Casino 888 Holdings for Up to $48 Million
Online gambling house 888 Holdings seemingly wants to break into Facebook and smartphones. The company has acquired Mytopia, a game studio launched by Real Dice in March 2008 with titles like Bingo Island 2 and Pacific Poker.
The acquisition comes at a tough time for 888, as Globes notes, which has gone through layoffs and lost over half its share price since last November. Although 888 itself is valued at just over $250 million, its total offer for Mytopia approaches a fifth of that total, with an initial $18 million payment in stock and cash and subsequent $6 million payouts based on performance.
Oddly,
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