Italian internet giant Dada.net has acquired 51% of the assets of online gaming startup Fueps in a deal worth €1.36 Millions. Fueps launched in 2008 and grossed over €600k while total ebitda was €750,000 in the red. Seems more of a rescue than an acquisition to me.
Dada decided to take over the 51% stake of the company that belonged to RCS Digital. The other 49% is owned by Digital Bros group.
Fueps develops online gaming channels, and is planning a new online poker game. It has a catalog of over 100 games and a half-a-million community of gamers. A big part of the business consists in developing white label solutions for third parties such as Virgilio.it.
Dada Group is likely to continue its moves into the casual & skill games market, married to Fueps tech platform.
Dada.net one of the few internet companies listed on the Italian stock exchange. Dada is also one of the most acquisitive companies, buying Blogo.it, the biggest Italian blogging network.