From lawsuit to acquisition: GSN acquires Bash Gaming
GSN had sued Bash Gaming three months ago for an alleged breach of contract. The financial details of the deal are not disclosedBy Saloni Surti 26 Feb, 2014
Social mobile casino, GSN Games is all set to acquire India-based Bash Gaming for an undisclosed amount. The deal is expected to close in mid-March 2014, subject to any requisite regulatory and other approvals. Bash Gaming is known for its famous game Bingo Bash.
Bash Gaming is the same company that GSN games had sued three months ago.
“With the Bash Gaming acquisition, we will expose our millions of social casino players to the Bingo Bash experience,” said Jeff Karp, Executive Vice President – Mobile and Social Games, GSN Games.
With this acquisition, GSN Games says it will have two of 2013′s top 10 overall grossing iPad apps and a monthly active user base of nearly 10 million players. The acquisition includes the hiring of Bash Gaming’s 140 employees, who are split between Silicon Valley and India.
“I’m very proud of what our team has accomplished, creating the world’s No. 1 bingo game, and with this new strategic partnership, we are poised to deliver our games to millions of additional players,” said Sumit Gupta, Founder and CEO, Bash Gaming.
GSN had filed a lawsuit against Bash Gaming for the alleged breach of a contract and other verbal agreement between the two.
Reportedly, GSN Games had then offered a whooping US$160 million for the acquisition of Bash Gaming, however, at the last moment Bash Gaming backed out of the deal making a deal with an unidentified third party buyer.
GSN Games was seeking to enforce the terms of the sale agreement to GSN through the lawsuit. GSN had demanded damages of at least $25,000 plus other costs, and an amount equal to the difference between what it was to pay for Bash and what the third party had paid.
According to a report by Recode.net, the lawsuit has now been dropped.
Bash Gaming was established in 2010 as BitRhymes and launched its flagship gaming title, Bingo Bash on Facebook in 2011. The gaming startup also developed number of titles such Slots Bash and Salon Street. Bash Gaming had received a funding of US$1 million in angel funding.
GSN Games claims to have a user base of 47 million players. GSN also offers original and classic game programming and competitive entertainment content through its digital cable and satellite channel in the US, Caribbean and Canada.