UK tech firm in £12.1m gamble

CAMBRIDGE technology firm Pursuit Dynamics yesterday announced a £12.1m purchase of three online social gaming and gambling businesses as part of a reverse takeover.

The company, which will rename itself Gaming Realms, will also seek to raise £3.4m from a share placing.

Pursuit originally marketed an industrial pump system but its share price crashed from 700p in 2011 to 1p. It has sacked all its staff.