Funworld, which was threatened by insolvency on September 13, has been acquired by Quanmax.

The business will be operated unchanged and the provider of online entertainment games and online terminals will now benefit in the short term from synergy effects within the group. The Italian funworld subsidiary has also been acquired in the deal. The expansion of the international sales network and the development of innovative products will both be given strategic importance by the Quanmax Group.

All business including that of the Italian subsidiary is to continue virtually unchanged as a new separate division within the group following acquisition of the automatic machines producer by Quanmax. Little will change in this for funworld customers: all contact partners for sales and purchasing in particular will stay the same and the product range has also been taken over in full and will be continued with all its areas – from entertainment to sport betting and poker. A new update for the Photo Play machines will be launched in October.

Significant improvements will emerge clearly from using the group synergies, such as those in support and logistics. Goods flows and a large share of all support work will be handled in future direct from the Quanmax-headquarters in Linz, Austria with its optimal logistics location in the industrial district at the Linz Danube river port. The highly promising online area is to be further developed, following a significant recent turnover boost resulting among others from a funwin platform operated by an affiliate network.

Following on from the funworld acquisition, Quanmax has now set an ambitious €100m turnover target for 2010 to significantly top last year’s €60m result.

 “Further to our core business to date the technological competence of the group will be significantly increased, allowing us to open up new high-margin business fields. In funworld we are welcoming an especially innovative well-known business-unit with a great deal of development competence into our group”, Quanmax board chairman Hannes Niederhauser said, adding: “funworld fits in outstandingly well with our overall concept and now provides the opportunity to expand with innovation in an efficiently managed environment and to push ahead with the business model developed so far.”