Monday August 1,2016 : FAST FORWARD ACQUIRE STAKE IN MOON ACTIVE
Social games developer a good bet, says CEO.
AIM-listed investment firm Fast Forward Innovations Limited (Fast Forward) has acquired a 5.9 percent stake in Israel-Based private social gaming developer Moon Active for a total consideration of $500,000 or $22.78 per subscription share.
Moon Active, founded in 2011, develops games for iOS and Android devices as well as for the Facebook platform.
“Moon Active represents the exact type of gaming and technology company that FastForward is focusing on and will continue to invest in,” Lorne Abony, chief executive officer of Fast Forward said. “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.”
InfoPowa readers will recall former bwin chief executive officer Norbert Teufelberger being appointed by FastForward in April 2016 in the role of “Special Adviser” to the Company.
Teufelberger’s role involves supporting FastForwards initiatives in identifying early stage investment opportunities in the technology and gaming industry.
Moon Active social gaming titles comprise Wonderball Heroes, Bitter Sam, Super Sam, Super Sam Adventures and its most recent Coin Masters.