|Boss Media is acquiring an interest in Jadestone Group AB, a Swedish company that is a world-leading developer of games and technology for mobile phones.|
In addition, Jadestone develops online and multiplayer games for various digital channels, often in combination with one another. Among other innovations, the company has developed a unique 3D-platform in Java, which provides the possibility to play skill games in a web-based environment.
Boss Media is initially acquiring 20 percent of the company's shares and holds an option to purchase an additional 5 percent. The transaction is strategically important for both companies, which immediately gain access to each other's customers and products. An agency agreement was signed between the two companies to increase each company's interest in promoting further sales of the other's products.
'This is an important milestone for us,' says Peter Bertilsson, President and CEO of Boss Media. 'We gain two things at the same time. One is a unique knowledge about the mobile area, in which it is difficult to keep pace with the rapid technological development for a company such as ours, and the other is that we gain access to know-how in the skill gaming area, which is closely related to our current portfolio technically but not in terms of the end-user experience. In the future, the telephone will be highly important as a distribution channel, both for gambling and entertainment games.'
The companies are also entering into a development agreement in which Boss Media is assigning projects to Jadestone for the development of mobile games.
'Our goal is to develop strong, commercial game concepts using state-of-the-art technology,' says Robert Henrysson, President of Jadestone.
'By teaming with Boss Media, the leading supplier of gaming system solutions, we will be able to jointly deliver a host of new, exciting products aimed at the global gaming market.'
For further information, please contact:
Peter Bertilsson, President and CEO, Boss Media AB (publ), telephone: +46 (0)470 70 30 01 or +46 (0)70 993 25 54, e-mail: email@example.com
Robert Henrysson, CEO, Jadestone Group AB, telephone: +46 (0)8-24 05 02 or
+46 (0)73 343 91 90,