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Goodwill Entertainment Completes Acquisition of Karaoke Supplier Funtech Solutions

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Goodwill Entertainment (SGX:GEH) has completed the acquisition of a 100% stake in entertainment technology company Funtech Solutions with the allotment of 20 million shares to the vendors at the issue price of SG$0.15, according to a Thursday filing to the Singapore stock exchange.

In June, the company agreed to acquire Funtech Solutions for SG$4 million.

On completion of the transaction, Funtech and its subsidiaries will be wholly-owned subsidiaries of the company.

Following the allotment and issuance of the consideration shares, the total number of issued and paid-up ordinary shares of the company has increased to around 415.2 million from 395.2 million.

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