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Gameplay gets serious about IPO

Online gamers take aim on £50m valuation

Online gaming company, Gameplay.com will be floating via a share placing in AIM (Alternative Investment Market) in the next few weeks. It is expected to be valued at around £50 million, from which it will raise £21 million. The share price will be announced later this month. Before it sets off on this new venture, it is on a bit of a shopping spree. Gameplay is buying Wireplay, an online games business set up by BT for £5.5 million. It is also in the process of acquiring Interactive Commercial Enterprises for around £8.1 million, depending on sales targets. Mark Strachan, the company chairman said: "Bringing the company to the market now will enable us to invest not only in the existing businesses, but also in a whole range of other opportunities afforded by the rapid growth of both the Internet and the computer games sector." Gameplay.com said that gaming was no longer a solo activity. Chief executive Mark Bernstein said that the market was becoming a community where users swapped tips and tactics. "Gameplay.com aims to become the one stop shop in Europe for this expanding community," he said. ®

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