The Canadian company Amaya plans to purchase Cryptologic

We have once already written about the purchase of a share fraction of this well-known online software provider Cryptologic. This year in spring the Canadian company Amaya Gaming purchased 7.5% of shares of the Irish company. Relations between these two companies have a very long history during which the Canadian company had time to move to Ireland and now Cryptologic can become part of Amaya Gaming.
The management of the Cryptologic provider had been examining the possibility of selling the company since it encountered a row of financial problems after what about 45% of personnel were dismissed. At the moment only an offering of cooperation and contract entry price has been received from the Canadian company. Amaya Gaming evaluated the Irish provider for $34.5 million which makes $2.5 for one share. The Canadian company obliged itself to fulfill a series of conditions before announcement of the final offer. The main demand is rendering of financial account and the company’s liquidity until 12th of January 2012.