Liberty Proposes To Buy Rest of Gaming Firm Fun Technologies

Media holding firm Liberty Media is proposing to buy the rest of interactive gaming firm FUN Technologies that it does not own. Currently it owns 53 percent of the company, and is proposing to buy the rest for the cash purchase price of GBP 1.635 (approximately C$3.50) per share . Fun is listed on both London’s AIM and Canada’s TSX exchange, and the closing prices on June 21 were GBP 1.5750 and C$3.15, respectively. The offer of course is subject to the shareholder approving and other closing conditions.

Fun operates in the online and casual gaming sector and develops skill gaming and fantasy sport services. Fun’s fantasy destination division, Fanball, is one of the largest independent sports fantasy providers in the US, or so it says. Its games division develops games for online, mobile, iTV and for stand-alone kiosks. Fun has been buying smaller gaming rivals in the last couple of years, some of which are listed below in related links. Liberty bought the majority in 2005, for close to $200 million in total.