GSN (Game Show Network) Games is acquiring Bangalore and California based social mobile casino game developer Bash Gaming for an undisclosed amount. A Re/code report cites sources to suggest a price of $160 million.
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 deal is expected to close in mid-March 2014, subject to any requisite regulatory and other approvals. The financial details of the acquisition were not disclosed.
Jeff Karp, executive vice president, mobile & social games at GSN Games, says this acquisition will allow them to strengthen its games portfolio and increase its reach on both iOS and Android. It will also provide an opportunity for Bash Gaming to further scale its titles, reach new players and integrate better user acquisition and analytics techniques. GSN also plans to make use of Bash Gaming’s multi-player technology to create “unique bingo experiences” on its skill games platform.
Karp also mentions that this acquisition will offer increased attention and interaction to advertisers from Bingo Bash customer base. Both companies will also be leveraging each other’s talent, reach and technology to build a gaming “powerhouse”.
GSN-Bash Gaming Lawsuit: What’s interesting here is GSN had earlier filed a lawsuit against Bash Gaming for allegedly backing out from an acquisition deal after agreeing to it verbally and in-principle and instead making a deal with an unidentified third-party buyer. GSN had apparently then offered as much as $160 million for the acquisition.
Through the lawsuit, it was seeking to enforce the sale agreement terms along with seeking damages of at least $25,000 and an amount matching the difference between GSN’s offer and the third party’s offer. Both the company had first entered acquisition talks in mid-2012. Bash Gaming CEO Sumit Gupta has told Re/code that the lawsuit has been dropped following the acquisition.
Started in early 2010 as BitRhymes, Bash Gaming launched its flagship gaming title Bingo Bash on Facebook in 2011. Besides Facebook, the game is now available on iPhone, iPad, Android and Amazon Kindle and claims to have more than 4.8 million monthly active users (MAUs). Besides Bingo Bash, Bash Gaming has also developed other titles like Slots Bash and Salon Street among others. It had raised $1 million in angel funding in April 2012.
On the other hand, GSN Games was founded in 1999 and develops mobile and social casino games like Wheel of Fortune Slots, Deal or No Deal Slots, Video Bingo Deluxe, Solitaire Rush, GSN Casino, GSN Lingo, Catch-21 and Games by GSN among others. It 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. It is a privately held joint venture between DirecTV and Sony Pictures Television.