Interactive TV gaming company, Win Gaming Media, has sold the assets of its subsidiary, MIXTV, to Playtech, a company that specializes in developing and licensing software for the online gaming industry. The deal between the companies also sees them signing a license and service agreement for Win Gaming's UK-based subsidiary, Two Way Gaming (note: Win Gaming's partner in Two Way Gaming is UK-based interactive TV formats developer, Two Way Media), under which Playtech has granted Win Gaming a non-exclusive license to use the newly acquired software assets for the sole purpose of providing support and maintenance services to Two Way Gaming. "As a result of the agreement with Playtech, we are bolstering our balance sheet and regaining financial stability, as well as dramatically reducing our operational costs," Win Gaming CEO, Shimon Citron, said in a prepared statement. "We are excited to collaborate with Playtech in what we anticipate to be a beneficial and long-term fruitful relationship through our license agreement. This new business venue shifts our focus to our subsidiary, Two Way Gaming, and the exceptional opportunities we face by working with Virgin Media TV, in nourishing and expanding the 'Challenge Jackpot' gaming channel which launched on July 1, 2008. Win Gaming Media is now free to pursue further sales of certain assets that will broaden its cash basis by generating new revenue share opportunities. I trust that the focus on Two Way Gaming and adding new revenue shared business collaborations will contribute to the growth of the company in the near future."
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