LONDON (Alliance News) - FasrForward Innovations Ltd said on Monday it has acquired an additional 236 units in virtual game developer Fralis LLC, trading as Leap Gaming, from a minority unit holder for EUR3,606 per unit, or EUR851,082 in total.
Following the transaction, FastForward holds 1,512 units in total, reflecting a 45% interest in Fralis.
"This acquisition of additional units further demonstrates FastForward's enormous confidence in Leap Gaming, its management team, and the potential of the company and its products following Leap's partnership with IMG. The steps that are being taken by Leap Gaming, working with IMG, are extremely exciting for all shareholders," said Chief Executive Officer Lorne Abony.
Shares in FastForward Innovations were down 7.7% at 12.11 pence on Monday.