LAS VEGAS-Wireless gambling technology company Diamond I Inc. Tuesday announced plans to acquire U.K. mobile game maker Touchdev Ltd.
Touchdev boasts a 12-title portfolio of wireless and online games including Texas Hold ’em Poker, a nongambling online game. Diamond I, which markets in-building gambling systems to casinos and cruise ships, said it purchased an option to acquire Touchdev for a combination of cash and stock.
“We see Diamond I as being very well placed to generate substantial value from our TouchPoker technology in the marketplace,” said Brad Thomas, owner of Touchdev. “This will be a fusion of two highly complementary technology companies.”
After failing to maintain a viable business model as a Wi-Fi provider, Diamond I is scrambling to gain a foothold in the mobile gambling space. The company has seen its stock value dissolve to a few pennies per share after hitting a 52-week high of 37 cents per share in January.
Shares of Diamond I were up slightly to about 4 cents per share in trading on the over-the-counter bulletin board mid-day Tuesday.
