The Corporate team at leading law firm JMW Solicitors has advised Urban Fun Limited (Urban Fun), a company set up by Paul Williams of Sega Amusements International Limited, on its multi- million acquisition of FunBox.
Urban Fun has acquired arcade brand, FunBox Entertainments UK, in a complex deal that spanned three jurisdictions, being the UK, US and Germany.
FunBox has expanded quickly throughout the UK, recently opening at Gravity Wandsworth in London, with another location due to open in Liverpool later this year. The brand is reportedly also targeting Westfield Stratford shopping complex for a further London site.
Following the deal, FunBox founders Matthew Deith and Albert Corrigan have joined with Sega CEO Paul Williams on the board of Urban Fun, a holding company which incorporates FunBox Entertainment UK along with its German sister company, FunBox Gmbh. The board of Urban Fun will consist of Paul Williams as CEO, Matthew Deith as managing director and Albert Corrigan as operations director.
Sega Amusements International Limited is a leading provider of innovative and immersive amusements.
John Andrews, Head of Corporate at JMW Solicitors’ London office, said, “This is an exciting deal for both Urban Fun and FunBox – we look forward to working with the team as the business continues to grow, launching new ventures and bringing forward innovative new concepts.”
The deal involved the acquisition of three separate entities within FunBox Entertainments UK; Taylor Vinters acted for FunBox UK, while Werner Luger & Partner advised in relation to the acquisition of German-based FunBox Entertainment Gmbh.
Intellectual property rights were purchased from Gamer Green, a US software company, which was advised by Menn Law Firm Ltd.
GamerGreen has a key role in the FunBox experience, facilitating the service that allows players to select prizes from their phone, computer or a kiosk, which are then delivered to their home. Following the deal, the technology company will continue to operate as part of FunBox.
Andrew England, Partner at Menzies, advised Urban Fun on the financial aspects of the acquisitions.