TMCNet:  Nektan acquires Mfuse

[June 21, 2013]

Nektan acquires Mfuse

Jun 21, 2013 (Datamonitor Financial Deals Tracker via COMTEX) — Nektan, Ltd., a Gibraltar-based developer of online gaming products, has acquired Mfuse Limited, a designer and developer of mobile and tablet applications for the sports betting industry.

Mfuse is backed by Bestport Ventures, LLP, a venture capital firm. Both Mfuse and Bestport are based in the UK.

Nektan has financed the transaction through a private equity fund-raising placement of GBP5 million.

Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Completed: 2013-06-20 Deal Participants Target (Company) Mfuse Limited Acquirer (Company) Nektan, Ltd.

Deal Rationale The acquisition will enable Nektan to combine its patent pending game formats and products, including its game concepts sklots, with Mfuse's hypertext markup language (HTML) 5 mobile-focused application development.

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