Play LA Inc., publicly traded internet advertising and publishing company to the online and mobile gaming industry, incorporated in the British Virgin Islands, announced that it has entered into a Share Purchase Agreement with NFC Data Inc., the company that develops solutions and technologies using Near Field Communications (NFC). The transaction between the companies has the purpose of BVI company to exchange its shares and acquire the business and assets of NFC Data Inc. Play LA Inc. expects the acquisition transaction to close in the beginning of 2013.
NFC Data Inc. develops platform to enable the use of NFC, which is a standardized technology currently used worldwide for entry access, gaming, phone-to-phone data transfer, payment processing and interactive marketing, in high margin environments, such as toys, advertising, promotions, gaming and payments.
