Canadian Gaming Firm Considers Purchasing Cryptologic

Cryptologic has had a tough time this year, struggling with finances and having trouble staying on its feet. The company seems to be in need of a lot of help, and a Canadian gaming company might be able to be of assistance.

Amaya Gaming, one of Canada’s top gaming developers, has offered Cryptologic an impressive $34.5 million in a proposal for an acquisition. Amaya has been expanding rapidly lately and views the opportunity to buy Cryptologic as a way to further expand its client base.

Last March, Cryptologic’s business plan included a possible sale of the company. So, Amaya’s offer has not come completely out of nowhere. Cryptologic has been unable to get out of its financial hole for quite some time, and an acquisition just might be what the company needs right now.

However, some financial analysts do not feel the same. According to Small Cap Network, Amaya’s current business plan deals with lottery, gaming integrity and taxation, which means it will have a difficult time expanding its client base through an entertainment-based company like Cryptologic.  

The deal has only just been put on the table. The two parties have until January 12, 2012 to come to an agreement.

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