Trade Exchange Network Reorganizing
With effect from January 1st, 2007, Trade Exchange Network, owner and operator of tradesports and Intrade, has agreed to divest its sports related business to a newly formed company, Tradesports Ltd., for an undisclosed sum.

The companies will cooperate fully to make sure there is no inconvenience to members and have agreed an initial two month timeframe to complete the transaction.

Commenting on the transaction, John Delaney, CEO of Trade Exchange Network said...

"After growing our combined sports and non-sports markets aggressively for five years, this development represents a significant transaction for the company. We are very thankful to our loyal sports traders and assure them that the transition will be both painless and positive for them. We are certain that TradeSports Ltd. will build on our achievements and that sports traders will receive a peerless service."

Trade Exchange Network, through its www.intrade.com platform, will continue to offer the broadest selection and deepest liquidity in real money prediction markets. Intrade will now look to aggressively extend the prediction markets and services it offers. The company will reorganize its trading and related services activities into two separate business units.

TradeSports Ltd., through the www.tradesports.com and www.tradebetx.com platforms, will continue to offer all the sports markets currently available on TradeSports, and more besides. TradeSports will only offer sports related markets. Non-sports markets will only be available on the www.intrade.com platform after 28th February 2007.

Author: Tradesports
Publish Date: Thu, 21 Dec 2006 10:24:32 GMT
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Source: Tradesports Exchange News
Description: Our premier sports betting exchange