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NetPlayTV acquisition of Abstract Games


12-23-2009

The UK online and interactive television gambling group NetPlayTV has finished the attainment of Abstract Games, which is going to be sold back to the former proprietors with the company keeping subscription services incomes. NetPlay has as well settled its mobile gambling agreement for the mobile casino services processes of Info-Download, an affiliated company of entertainment products manufacturer Zed Worldwide.

Abstract Games was bought in February 2007 for GBP 500 000 in advance, with the agreement accepting delayed payments up to GBP 3.5 million. As well as the 1st portion of delayed consideration of GBP 1.01 million paid last year, the NetPlay board has consented a final payment with the sellers of GBP 1.1 million which is going to be paid right away in full as final conclusion of the purchase agreement, delivering the sum of consideration to GBP 2.61 million.

        
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