BRIEF-Transgaming plans to reduce headcount by more than 50 pct

Mon Apr 18, 2016 9:34am EDT
 
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April 18 (Reuters) - Transgaming Inc :

* Transgaming announces cost reduction measures

* Undertaking significant cost reduction measures in order to preserve its cash resources as revenue growth has slowed in recent months

* Beginning in may 2016, co plans to reduce operational and administrative headcount by more than 50 pct and restructure its overseas offices

* Evaluating opportunities to enhance shareholder value, including sale of Gametree TV business to a third party

* Total annualized operating expense savings from cost reduction measures of approximately $1.3 million

* Will not invest in deployment of new services in Connected TV Space going forward

* Also considering strategic business transactions for company Source text for Eikon: Further company coverage: