Based in Pennsylvania, Fantasy Sports (www.Fantasycup.com) provides
fantasy sports racing solutions. Founded in 1993, Fantasy Sports is a leading
provider of fee-based NASCAR-related and other fantasy sports games.
SkillJam is a multi-channel provider of skill-gaming technology and
solutions. It develops and distributes private-label gaming solutions for a
broad network of partner destination sites in the US and abroad, including
AOL, MSN’s Zone.com and Virgin Games.
This acquisition will allow FUN to integrate its NASCAR fantasy
product-part of its FUN Fantasy division (www.fanball.com)-with Fantasy
Sports’ NASCAR products and services. The consideration for the acquisition of
Fantasy Sports was US$3.85 million in cash.
Lorne Abony, the CEO of FUN Technologies, said, “Fantasy Sports is a
logical acquisition for FUN-we are excited about being able to leverage their
NASCAR expertise to strengthen our current Fanball NASCAR offering. As a
strategic acquirer, we see significant economies of scale and leverage
resulting from this acquisition. Fantasy Sports’ NASCAR product complements
our existing fantasy product, and provides natural cross-sell opportunities.
The acquisition also results in redundant operations in personnel and
technology, and we believe the elimination of these redundancies will result
in increased profitability for Fantasy Sports.”
Clive Kabatznik, CEO of Silverstar Holdings, commented, “We are very
pleased that Fantasy Sports will be a part of the FUN Technologies group of
companies-this new partnership will not only increase the distribution
channels for Fantasy Sports’ NASCAR-related products, it will also provide
them with an appealing suite of casual online gaming products for their
existing customers.”
