New Wave eyes lotteries with WagerPhone purchase

After a brief delay, New Wave Mobile Inc. has closed on its acquisition of WagerPhone Inc., which provides a customizable platform for lotteries that offers new and alternative distribution channels. The deal, which was expected to close Dec. 19, was delayed due to minor amendments to the agreement.
Terms of the agreement were not disclosed.
WagerPhone’s platform, which utilizes text messages, interactive voice recognition and mobile applications, allows for game interaction in real time. WagerPhone also offers games that can be played for fun, real money, credits and talk time, including lotteries, scratch and win cards, blackjack, slots and a sports book.
“Now that we are closed and operating as a public entity, we look forward to creating an excellent shareholder base by delivering exciting business developments. The business model we have been implementing has been received with tremendous success by lotteries and other institutions worldwide,” said WagerPhone President Marc Askenasi.