TMCnet News
'NetPlay TV buys UK mobile gambling, gaming sites'(DMeurope Via Acquire Media NewsEdge) UK interactive gaming company NetPlay TV has acquired mobile gambling site Venturygames.co.uk and skill gaming site Toucanwin.com from Info-Download. NetPlay has also signed agreements with Info-Download parent Zed Worldwide, provide of mobile and internet entertainment and community products and services. Venturygames.co.uk provides casino and bingo entertainment products and services for mobile phone users, allowing them to download games direct to their phones and place bets whilst on the go. It has an agreement with O2 UK and currently generates bets worth over GBP 400,000 per month. Toucanwin.com was established to exploit the growing 'skill' gaming business in countries where gambling is not permitted. Under the terms of the agreements, NetPlay TV will also take over UK mobile quiz business 'Grab a Grand' from Info-download. This weekly quiz has over 11,000 subscribers. The businesses acquired as part of this transaction currently generate monthly gross revenues of around GBP 500,000. NetPlay is paying a total of GBP 1 million for the assets, satisfied by the issue of 3.85 million ordinary shares of GBP 0.05 at an agreed price of GBP 0.26 per share. NetPlay has also signed two strategic agreements with Zed. The first 2-year deal allows Zed to sell NetPlay's interactive gaming solutions to its client base of over 130 mobile network operators worldwide. The second, 1-year agreement allows NetPlay to exploit Zed's mobile development skill base. (Distributed for DMeurope.com via M2 Communications Ltd (www.m2.com)) Copyright ? 2009 M2 Communications Ltd. |