New Wave Mobile Closes Its Acquisition of WagerPhone

TORONTO - New Wave Mobile closed its 100 percent acquisition of WagerPhone. The deal was initially scheduled to close December 19, 2006. Completion was delayed as a result of minor amendments to the agreement.

WagerPhone's primary focus is a customizable platform for use by lotteries that offers all the new/alternative distribution channels, while functioning as a portal to bridge the gap to the lottery's existing back office systems. WagerPhone is a multimedia enterprise that offers distribution channels and promotional tools to provide growth opportunities to businesses via the utilization of SMS (Text Message), Interactive Voice Recognition (IVR), Mobile Applications (J2ME/Brew/WAP), and Online platforms.

WagerPhone also offers a variety of other products, for use in both product distribution and promotion, including games that can be played for fun, real money, credits, talk time minutes, etc. These games include: Lottery & numbers; Instant win & scratch cards; Blackjack; Slots; and a Sportsbook.