By Kevin Felix | February 18, 2008

Earlier this month, Boss Media announced that GEMed AB, a company jointly owned by GTECH and Medströms, had expressed its intent to purchase 100 percent of the online gaming company’s outstanding shares for SEK 19.00.The Boss Media had until February 27 to accept the offer.

No need to wait that long.Wednesday, GEMed AB drastically increased its offer to SEK 25.00.Two mutual fund management firms, Swedbank Robur and Zenit, promptly sold 8.6 million shares to GEMed AB, making GEMed AB the majority shareholder of Boss Media, with 15.8 million shares.  

Therefore, while GEMed AB does not own 100 percent of the company, it is now effectively the owner of Boss Media.

Related posts:

1. PokerTrillion to Leave Boss Media
   PokerTrillion, one of the poker rooms on Boss Media’s International Poker Network (IPN,) will have a new home on Friday.On...
2. War of Words between Poker Trillion and Boss Media
   There are all sorts of controversies in the poker world: who was behind the superuser accounts? Who really played as...
3. Boss Media Curtailing Rakeback
   Earlier this month, eGaming Review reported that Boss Media is taking a hardline stance on rakeback given by licensees on...
4. Paradise Poker Officially Part of Boss Network
   One of the old-timers of the internet poker industry, Paradise Poker, is no longer an independent.After several months of struggling...
5. More CEO changes at top gaming companies
   First Svenska Spel and now Boss Media are changing CEOs following a change in higher management. While Svenska Spel has...