21 March 2006

FunTechnologies Buys Company for 23 Million

FUN Technologies purchases WorldWinner for $23 million
FUN Technologies has announced that its wholly owned subsidiary, SkillJam Technologies has acquired WorldWinner.com in a $23 million deal. This strengthens their position at the head of the highly competitive market and fast-growing casual gaming market.

WorldWinner already awards millions of dollars in prizes every month and an average of 350,000 games are played on WorldWinner daily producing yearly revenue of $10.67 million for the 12 months ending December 31, 2005.

In the short term WorldWinner's products will continue to be, but in the near future there will be some level of integration with the SkillJam property.

Lorne Abony, CEO of FUN Technologies said, “The acquisition of WorldWinner is a significant strategic achievement for FUN Technologies. WorldWinner was until now our largest competitor and by consolidating the two businesses we will achieve significant operating efficiencies, leverage and synergies.”

Stephen Killeen, the President and CEO of WorldWinner commented, “We are proud to be a part of this merger with FUN Technologies. The consolidation of the two organizations will result in a global skill-gaming powerhouse.”

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