Monday, March 20, 2006

FUN Technologies acquires WorldWinner for $23M - Newton, MA

Online gaming company WorldWinner Inc. has been bought by FUN Technologies Inc. of Toronto. FUN Technology, through its wholly owned subsidiary, SkillJam Technologies Corp., paid $23 million for WorldWinner. WorldWinner hosts more than 10 million games and awards millions of dollars in prizes every month, according to company officials, with an average of 350,000 games played on WorldWinner daily. For the 12 months ended December 31, 2005, WorldWinner reports revenue of $10.67 million, a loss before interest, taxes and extraordinary items of $0.68 million and net assets of $3.91 million.


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