FUN Technologies Inc. (“FUN” or the “Company”),
one of the world’s leading online and interactive casual games providers,
announced today that it has acquired Teagames, a UK-based casual games portal
and developer. With this acquisition, Teagames becomes the latest casual games
offering to join FUN Technologies’ FUN Games division, which boasts 27 million
registered players. The acquisition expands on FUN’s European growth strategy
and further solidifies the company’s leadership position in the fast-growing
casual games market.
Based in the UK, Teagames is a privately held company that specializes in
developing and licensing Flash-based casual games. Its Teagames.com Web site
features more than three dozen free games, including TG Motocross 2, Pitch’n’
Putt Golf, Alpine Freestyle and Extreme Climbing. According to Comscore,
Teagames attracts approximately 4.6 million unique visitors per month from
19 countries worldwide.
Over the short term, Teagames products will continue to be offered on its
website, http://www.teagames.com/, but there will be some level of integration
in the future with FUN Games properties, including WorldWinner, SkillJam and
Octopi.
“The purchase of Teagames marks another significant milestone in FUN’s
European expansion strategy, increasing our market share in Europe through the
acquisition of millions of players, a significant number of whom come from the
UK and continental Europe,” said Lorne Abony, CEO of FUN Technologies. “Adding
more than 4.6 million unique visitors per month to our games platform will
allow us to up-sell these customers to our higher margin cash skill offering
and leverage the additional traffic for advertising revenue with little
incremental cost. Further, our customers will benefit from Teagames portfolio
of 41 propriety casual games.”
