Fox Williams LLP acted for AIM-listed NetPlay TV plc (“NetPlay”) in connection with its acquisition of Venturygames.co.uk and Toucanwin.com, the mobile gambling and skill gaming business of Info-Download Limited, a subsidiary of Zed Worldwide, S.A. (“Zed”), for a consideration of £1m. NetPlay operates a number of interactive gaming services and is focused on the delivery of a converged interactive gaming experience allowing its customers to interact with its games on a variety of platforms. Fox Williams also assisted NetPlay to negotiate a two year sales agreement for Zed to exclusively sell the NetPlay range of interactive gaming solutions to its client base of over 130 mobile network operators worldwide, as well as a strategic partnership allowing NetPlay to access Zed’s mobile development base.
Martin Higginson, Executive Chairman and CEO of NetPlay, commented:
“This is another milestone in the growth of our business. This acquisition increases Zed’s stake in our business and as such reaffirms their belief in our goal to continue building a truly converged global interactive entertainment business”.
The Fox Williams’ team acting on the transaction was led by head of corporate, Paul Osborne. He commented:
“It was great to see this acquisition complete successfully on New Year’s Eve. A real team effort was required to draft, negotiate and finalise this acquisition within 3 weeks of being instructed”.