FastForward Innovations, an investment firm advised by former bwin.party co-chief executive Norbert Teufelberger, has acquired a 5.9% stake in Moon Active.
The deal is worth a total of $500,000 (€446,000), with FastForward paying $22.75 per subscription share.
Founded in 2011, Moon Active develops social multiplayer casual games for iOS and Android devices as well as for social network Facebook.
“Moon Active represents the exact type of gaming and technology company that FastForward is focusing on and will continue to invest in,” FastForward chief executive Lorne Abony said.
“Under the leadership of chief executive Samuel Albin, the company, while still in its early-stages, is growing very quickly, while utilising the latest and most advanced technology to create a fantastic experience for users
“Moon Active’s business model represents a paradigm shift in the gaming business, whereby startup’s now have the ability to build next-generation technology that industry incumbents can’t afford to ignore, giving them a huge upside over the large players, and a huge opportunity to massively disrupt the market.
“Because they aren’t tied to outdated technology architecture, startups can innovate their products to respond to the market within days, whilst for major gaming players, those types of changes can take months or years, if at all.”
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