27 Jul 2016 16:59
FastForward Innovations Limited
27 July 2016
FastForward Innovations Limited
("FastForward", the "Company" or "FFWD")
FastForward acquires 5.9% interest in Moon Active
AIM listed Fast Forward Innovations Limited trading under the symbol FFWD is pleased to announce that it has acquired 5.9 per cent. of the issued shares (on a fully diluted basis) of Israel-based private company Moon Active Ltd. ("Moon Active"), a developer of social multi-player casual games.
Fast Forward Innovations Limited has acquired 5.9% interest of Moon Active shares (the "Subscription Shares") at a price of US$22.78 per Subscription Share (the "Subscription") for total consideration of US$500,000.
About Moon Active
Moon Active aims to become a leader in the market of casual social games. Utilizing next-generation technology to develop hyper-realistic games, the company develops games for iOS and Android devices as well as for the Facebook platform. Moon Active was founded in 2011 and is headquartered in Tel Aviv. Moon Active is led by CEO Samuel Albin and counts among its shareholders high profile technology and gaming entrepreneurs and investors.
Moon Active has developed five games since inception. The company's games have been installed over 10 million times, are distributed in over 150 countries and all include a heavy emphasis on social gaming mechanics.
The company has developed significantly advanced proprietary technology, including its own in-house gaming infrastructure, machine learning based gameplay technology and in-game personalization mechanics. The company believes that these proprietary technologies are key to its continued success.
Commenting on the investment, Lorne Abony, CEO of FastForward said "Moon Active represents the exact type of gaming and technology company that FastForward is focusing on and will continue to invest in. Under the leadership of CEO Samuel Albin, the company, while still in its early-stages is growing very quickly, while utilizing the latest and most advanced technology to create a fantastic experience for users."
Moon Active's latest title, Coin Master, is a casual game of skill where users build villages, attack one another and grow their empire. It combines the thrill of gaming by introducing skill and luck components. Users purchase credits to be used in an in-game slot machine. This revolutionary game play has made Coin Master a fast-growing game in the casual & social segment.
Commenting further, Mr Abony said "Moon Active's business model represent a paradigm shift in the gaming business, whereby startup's now have the ability to build next-generation technology that industry incumbents can't afford to ignore, giving them a huge upside over the large players, and a huge opportunity to massively disrupt the market. Because they aren't tied to outdated technology architecture, startups can innovate their products to respond to the market within days, whilst for major gaming players, those types of changes can take months or years, if at all."
For further information on the Company and its investments please visit www.fstfwd.co or contact:
FastForward Innovations Limited info@fstfwd.co
Josh Epstein / Ian Burns
Peel Hunt LLP Tel: +44 (0)20 7418 8900
Dan Webster / Adrian Trimmings / George Sellar