Olswang has advised the Gamesys Group, one of the UK's leading online gaming groups, on its acquisition of Virgin Games. As well as agreeing to acquire certain key assets of the Virgin Games business, the Gamesys Group secured a long term exclusive right to use the Virgin brand in connection with online gaming and the ever expanding social gaming market.
The Gamesys Group operates the UK's leading bingo and slots website Jackpotjoy.com and other brands, such as The Sun Bingo and Caesar's online Bingo and Casino. The group also develops its own social games, including the Facebook app, 'Bingo and Slot Friendzy', the first real money gaming app to appear on the social network's App Centre in the UK.
Originally started in late 2003, Virgin Games is part of Richard Branson's Virgin Group. The Gamesys Group aims to leverage the Virgin brand and expand the scope of the current business both internationally and in terms of the scope of the products offered under the brand, which will be applied to Gamesys' own proprietary gaming and newly developed products.
Michael Saunders of the Gamesys Group commented: "We are delighted to have concluded this complex, yet exciting transaction. We are grateful to the Olswang team, who helped us work through both the asset acquisition and trade mark licensing arrangements, making it easy for Gamesys to look forward to a bright future with Virgin Games."
Rob Willis, Corporate Partner at Olswang, commented: "With its complex regulatory and technical requirements, the online gaming industry is a fascinating one. It was a pleasure to help Gamesys in this transaction, which was particularly rewarding, as it brought together corporate, commercial and intellectual property for an established industry player and a renowned brand."
The multidisciplinary Olswang team was led by Corporate Partner Rob Willis and Senior Corporate Associate Edd Heaton with Commercial Partner David Zeffman leading on the trade mark aspects, with assistance from Commercial Associates Matt Pollins and Alex Dixie and Senior IP Associate Anoushka Sandry. Employment Partner Mel Lane and Employment Associate Libby Payne advised both on due diligence and also in relation to the TUPE aspects of the transaction.
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