Tangelo Games Corp. IPRSF

article from a few days ago

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Imperus Technologies (TSX: V.LAB, Stock Forum) made a mighty transformation over the last year, re-branding itself from an unfortunate moniker so it could continue to carry out its mission of converging Social Gaming, Mobile Gaming and Real Money Gaming through the deployment of its award-winning social gaming platform, Casina, which enables the monetization of virtually any game or application for the gaming industry. Already catching the gaming sector’s attention with its strategic acquisition of casual gaming developer, Vast Studios back in July, the company made headlines once again in October when it announced that it was going to acquire the Tel Aviv-based social-game developer, Diwip. Diwip was already an industry darling as the company had rocketed revenues of $7.8 million in 2011 to $28.3 million in 2013 with 24 million registered users taking advantage of its prolific gaming portfolio. Not only was the company a successful developer of such free-to-play hits as Best Casino, it had created an additional and lucrative revenue stream through supplying proprietary game-making software to other developers. Even though major players like Playtech and Rational Group were sniffing around hoping to add Diwip to their gaming arsenal, smaller suitor Imperus won the day. Imperus CEO, Daniel Kajoule, chalked up his acquisition success to the fact that his company and Diwip held the same vision for the future of their combined enterprise, and each had the drive and determination to make it a reality. As of January 30, 2015, that landmark deal was completed and Imperus and its Israeli unit, Israeli Sub, acquired all of the outstanding shares of Diwip for a total adjusted price of US$49.58 million, of which US$39.66 million was paid in cash by Israeli Sub and US$9.91 million was satisfied by Imperus issuing a total of 30.56 million common shares at a price of $0.404 per share. According to today’s news release, Diwip’s two shareholders, Yaniv Gamzo and Ehud Kantzuker (“Vendors”), are also entitled to certain contingent earn-out payments on reaching specific milestones. Details of the Vendor’s earn-out rights can be found in the company’s news release published on October 14, 2014 and on SEDAR. As a result of the transaction, Diwip is now a wholly-owned indirect subsidiary of Imperus with Gamzo and Kantzuker resigning as directors and co-CEOs of Diwip and Daniel Kajoule appointed as sole director and CEO in their stead. Kantzuker will instead serve as co-President and Chief Product Officer of Diwip while Gamzo will fill the role of co-President and Chief Technical Officer. The transaction remains subject to TSX approval. This is great news for investors as Imperus seems to be positioning itself to take a dominant piece of the exploding free-to-play social gaming space and when you consider that mobile gaming hauled in $16.0 billion in 2013 with social gaming being its primary driver, that revenue has stratospheric potential. Imperus has solid management with deep technical knowledge and social gaming experience, with all of these smart acquisitions it will be interesting to see how this determined enterprise develops over the next 24 months. Imperus Technologies was in the news recently when the Toronto-based company announced closing approximately $25 million in subscription receipt financing less than a week ago. Read more at https://www.stockhouse.com/news/newswire/2015/02/02/imperus-technologies-v-lab-wraps-up-landmark-social-gaming-acquisition#HcjXrJAkt7bxRpjL.99

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[Imperus is positioning itself  for the dominant place in free to play social gaming which has stratospheric potential in revenue growth.] Sounds good to me. U