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News
Issue #2002 - 05
(February 2002)
(Updated Feb.
6, 2002)
ACQUISITIONS,
MERGERS & AGREEMENTS
Codeonline Merges with Springtoys
to Create the Largest Wireless Entertainment Co.
Codeonline Ltd., a developer
of interactive mobile entertainment, and Springtoys, a developer of
wireless gaming technology, have agreed to merge to create what they
claim will be the world’s largest wireless entertainment company.
Under the terms of the agreement, the merger will be carried out
through a share swap.
Both Finnish companies have built their reputations on creating
innovative mobile entertainment content. Codeonline focuses on the
ready-to-play market, launching such mobile versions of ‘Trivial
Pursuit’ and ‘Who Wants to be a Millionaire?’ whereas
Springtoys develops wireless content and services for the likes of
Disney, Nokia, Infogrames, and KPN Mobile.
By combining their expertise, the companies expect to multiply
the number of gaming transactions and reach an ever-growing number
of new potential customers.
"This merger creates a truly unique center of expertise in
mobile entertainment," said Janne Turunem, CEO of Springtoys.
"Our technological competences have an ideal match: our
extensive knowledge and experience in both existing and future
mobile devices is now complemented with the robust and scalable
mobile gaming platform and service created by Codeonline."
Maija Hämäläinen was appointed as the CEO of the new company,
with a management team to be selected from both companies.
For more information: http://www.codeonline.com
Mobileinfo Comments & Advisory: Mobile
entertainment will be a large market in future. You need bigger
players in this space because smaller ones will run out of their
meager cash flow before the market does become sizeable. You need
staying power.
Note: This news release may contain
forward-looking statements. Readers should take appropriate caution in
developing plans utilizing these products, services and technology
architectures. All trademarks used in this summary are
the property of their respective owners.
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