Playsafe Holding announces the sale of its operating division to Julian International Holdings Ltd.
Playsafe Holding is selling its operating division to investment company Julian International Holdings Ltd (JIH).
The deal is between JIH and Ecom Enterprise, a subsidiary of Playsafe Holding, and includes TigerGmaing.com, ActionPoker, Action Commerce Ltd, PokerinCanada.com and PayNoRake.com.
ActionPokerNetwork.com and ActionPoker.com are not part of the deal and will remain under Playsafe Holding. However, from December, ActionPoker.com customers will be transferred to Julian International Holding’s new Chico Poker network.
Although no figures have been released, it is understood that Playsage Holding will receive an upfront payment and balancing payments for an unspecified number of years.
Playsafe Holding intends to focus its attention on its software business and on developing a B2B platform for online poker game operators.