Fun Technologies, incorporated in England but listed on the Toronto Stock Exchange, said Wednesday the takeover, through wholly owned subsidiary SkillJam Technologies Corp., “expands Fun’s business interests in the growing mobile gaming market.”
Octopi, located in Tucson, has established itself as a developer of single-player and multiplayer mobile and online games.
Its Octoplex game development engine supports multiple languages through more than 100 mobile handset models as well as PDAs and web browsers.
Fun said Octopi had $800,000 in pre-tax operating profit last year, and the acquisition price is made up of $3 million US in cash and “an earn-out of up to $3 million.”
Fun’s SkillJam develops and distributes private-label games for a network of partner sites in the United States and abroad, concentrating on fee-based games of skill.