Fun Technologies makes major purchase

Canadian pubic company, FUNTech has recently announced their acquisition of major rival, WorldWinner.com.
Lorne Abony, along with his management team sealed the $ 23 million deal and released the news earlier last week.
Abony, CEO of FUNTech, used a subsidiary company – SkillJam Technologies to make the recent acquisition. Abony claimed to have undertaken the deal to strengthen and promote his company’s position in the fast-growing and increasingly competitive market.
WorldWinner captures a large audience of the casual skills game market. They have been known to give millions of dollars worth of prizes each month. They also have over 300,000 games played every day.
Each year WorldWinner rakes in over $10 million. In 2005, the company's financial revenue, ending December 31 reported the company made $10.67 million.
Additionally, the company reported that only in January they say over 14 million registered players.
Currently, WorldWinner's brand-name products will continue to be exhibited with their original name. nevertheless, this will change in the future since the take over by SkillJam.
Fun Technologies sees their acquisition of the company a major strategic step. According to Abony, until the deal was signed and sealed, WorldWinner had remained his company's most significant rival. Thus, by conglomerating and consolidating with such a competitor greatly improves his company's operating efficiencies and leverage.

From the other side, President and CEO of WorldWinner, Stephen Killeen, commented that his team were excited and proud to be joining forces with Fun Technologies. It follows that when two large organizations such as theirs consolidate, the result will be a global skill-gaming "powerhouse".

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