Andover Games merges with Ascend Acquisition
Andover Games has completed its merger with Ascend Acquisition
?Andover Games may no longer require merger and acquisition consultants, as it has become one of Ascend Acquisition's wholly-owned subsidiaries.
Ascend purchased four million shares of common stock for a total of $2 million (£1.26 million), or 50c for each share, in order to buy the San Francisco-based mobile gaming firm.
"We are excited about becoming a public company with this merger with Ascend Acquisition," chief executive officer and president of Andover Games Craig dos Santos declared.
He explained the deal will enable the business to engage in strategic purchase of its competitors, pursue publishing deals with smaller firms and allow it to utilise public stock to attract the "very best talent" in the sector.
This gives the enterprise a "major advantage over our privately-held competition", the representative claimed.
Some of the games owned by the firm include Dino Park and iPhone Operating System title Spacecraft, both of which will be released soon.
Posted by Ron Maverick
Source: Ascend Acquisition press release, March 2nd