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NetPlay buys 2 mobile gaming Web sites for 1 mln stg

Fri Jan 2, 2009 3:20am EST

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Jan 2 (Reuters) - British gaming firm NetPlay TV Plc (NPT.L) said on Friday it acquired Venturygames.co.uk and Toucanwin.com, the mobile gambling and skill gaming businesses of Info-download Ltd, a unit of Zed Worldwide SA, for 1 million pounds ($1.46 million) in stock.

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The businesses acquired currently generate a monthly gross revenue of about 500,000 pounds and the deal will immediately add to its earnings, NetPlay said.

The company said it issued about 2.88 million shares at 26 pence each to Zed, an entertainment software products developer, and would issue a further 961,538 shares on March 31.

NetPlay will also acquire Info-download's UK mobile quiz business Grab a Grand, it said.

The deal will increase Zed Worldwide's total stake in NetPlay to 13.76 per cent of the enlarged business.

NetPlay also signed a two-year sales agreement with Zed that allows Zed to sell NetPlay's interactive gaming services to its clients worldwide.

As part of the partnership, NetPlay will get access to the Zed mobile developers, enabling it to develop integrated mobile applications much quicker.

NetPlay shares closed at 23.50 pence on Wednesday. (1 pound=$1.46) (Reporting by Balachander Surianarayanan in Bangalore; Editing by Gopakumar Warrier)

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