Cashcade Spending Spree

Cashcade, the company that owns and operates Foxy Bingo as well as Getmintedbingo.com, has been on a bit of a spending spree lately, snapping up two other bingo-related companies for a total of £13.5 million pounds.

The first company on the Cashcade shopping list was Independent Technology Ventures, which owns three popular online bingo sites: ThinkBingo.com, Think Bingo Plus and Bingo Scotland. The other company that Cashcade has acquired is Herotech Limited, which operates an online bingo portal.

Cashcade has said that it has acquired Independent Technology Ventures and Herotech Limited in an effort to strengthen its share of the online bingo market. Patrick Southon, the Managing Director of Cashcade, commented: "These acquisitions are an important step forward in our continued growth. Think Bingo was the UK's first standalone bingo site and today it remains one of the most established."

Cashcade is a privately owned business with prominent investors from the newspaper and property industries. It has been providing gaming services for more than six years, and although it manages services for clients such as the Daily Mirror and Emap, its own Foxy Bingo and Getminted.com are it's best known offerings. Now, with Think Bingo, Think Bingo Plus, Bingo Scotland in its portfolio, Cashcade is in a good position to increase its strength and position in the online bingo market.

"We can now offer our customers a wider product selection and position ourselves at the forefront of the emerging online bingo industry," Patrick said.

30th January 2008