Twistbox parent company has big plans for poker brand.
This may be the mobile industry equivalent of going all-in: Twistbox's parent company Mandalay Media wants to buy the World Poker Tour.
It submitted a proposal to WPT's board to acquire the company for $35 million in cash and stock yesterday, and then today upped the offer to $36.5 million, including $28.5 million in cash.
The company is trying to hijack WPT's planned sale to Peerless Media, a subsidiary of online gambling firm PartyGaming, and is citing its mobile clout as one reason for WPT to abandon that deal.
"Mandalay Media can leverage its mobile platform and operator relationships throughout the world to provide a full mobile social media and sports / poker playing experience," says its letter to the WPT board.
It also suggests that Twistbox's Play for Prizes platform would be a good fit for the World Poker Tour brand. The news comes two days after Mandalay appointed former Glu Mobile exec Ray Schaaf as its new president.
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The news will be of intense interest to mobile publisher Hands-On Mobile, which holds the licence to produce mobile games and apps based on World Poker Tour.
