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Funcom N.V (NO) Plutolife AS, a subsidiary of FUNCOM N.V. has been sold to Jumbuck Entertainment Ltd. A sale and purchase agreement has been entered into under which Jumbuck has acquired a 100% interest in Plutolife. Funcom had a 74,98% ownership stake in Plutolife AS. The acquisition will consist of an initial consideration of USD 3.7 million in cash payments phased over the next 12 months, $600,000 of which is an injection of working capital.
Jumbuck Entertainment Limited (ASX: JMB) is an Australian based mobile content company that focuses on the provision of community based applications to wireless carriers.
For Further Information, please contact; Olav Sandnes CFO Funcom Telephone: +4792225540 Email: olav.sandnes@funcom.com
