After curious reverse takeover, Singapore’s Yuuzoo buys games provider IAHGames
May 14, 2013 by Terence LEE
Among tech startup circles in Singapore, Yuuzoo is not a tech company that’s particularly well-known.
But the social media and e-commerce firm, which even has a Square-like mobile point-of-sales system, recently caused a small blip on the radar by completing a reverse takeover of public-listed but declining hardware company Contel, paving the way for an entry into the Singapore Stock Exchange. The deal gives Yuuzoo majority ownership of Contel, valued at USD 582.3M.
Contel’s share price has remained at USD 0.08 since the announcement.
It isn’t stopping there. Now comes news that Yuuzoo has made another acquisition, this time a cash and share deal with IAHGames, a games distributor and operator in Singapore. Read more
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