Net game sites set $140 million combination

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Vivendi Universal subsidiary Flipside.com will acquire online-gaming rival Uproar in a deal worth about $140 million. Under the terms of the agreement, Flipside will buy Uproar's outstanding stock for $3 a share in its effort to make one of the largest online-gaming networks, the companies said in a joint statement. Although both executive boards have signed off on the transaction, government regulators must still approve the merger. Although Flipside recently closed offices in Seattle and laid off 39 employees, the companies believe this is the right time to merge. Flipside in January released a series of e-mail games designed to be played over America Online's ICQ instant-messaging service. Flipside and Uproar said the combined company is expected to make $70 million in revenues in 2001. Flipside, an ad-supported site, was formed in March 2000 from the merger of online game sites Won.net and PrizeCentral.com.

Copyright February 2001, Crain Communications Inc.

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