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CryptoLogic deals lead to share price rise

A series of announcements by leading online software provider CryptoLogic have led to its share price rising sharply, it has been revealed.

Despite 2007 having only just begun, CryptoLogic has already announced details of several recent agreements, including its purchase of Parbet.com, a Scandinavian poker company, in a multi million dollar deal.

Other deals include licensing arrangements with Playboy and William Hill, as well as the sponsorship of internet gaming function Fire & Ice in London later this month.

As a result of such contracts, shares in CryptoLogic rose by 30 cents leaving the company at $27.69 at the close of business on the Toronto stock market.

Meanwhile, Forbes reports that knowledgeable Nasdaq traders have taken advantage of a rise of over 40 per cent in CryptoLogic shares in recent weeks.

The software provider rose to success in the 1990s and beyond on the back of its relationship with sites such as InterCasino.com and InterPoker.com.


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