PLAYSPAN ACQUIRES SPARE CHANGE, THE LEADING SOCIAL NETWORKS MICROPAYMENTS SERVICE

Tuesday 21st April/... PlaySpan, a global leader in payment solutions for online games, virtual worlds, and social networks, announced today an agreement to acquire Spare Change, the original and largest micro-transaction provider for social networks.

Spare Change enables buyers and sellers to transact safely, easily and inexpensively and this acquisition confirms PlaySpan’s position as a global leader in the monetisation of social networks, online games and virtual worlds. The combination of Spare Change, PayByCash, Ultimate Game Card, and Ultimate Points offers developers and users worldwide an unrivalled platform that includes over 80 payment methods covering 190 countries.

Spare Change will increase PlaySpan’s ability to target the emerging social networking space and further enhance the experience of millions of consumers worldwide.

“Spare Change was designed specifically for social networks, so it complements our existing monetisation platform for online games and virtual worlds,” said Karl Mehta, Founder and CEO of PlaySpan.“Combining Spare Change’s fast growing user base with our deep operational experience and trusted brands provides a one stop monetisation solution for our developers and publisher partners worldwide. In addition, its founders, Lex Bayer, Simon Ru, and Mark Rose have impressive social network monetisation experience that will complement our management team and add significant value to our clients and end users. We are very excited to add Spare Change to the PlaySpan platform.”

“Spare Change is based on the simple principle of making small payments safe and convenient for consumers and application developers alike,” said Lex Bayer, Co-Founder and CEO of Spare Change.“Our platform has processed millions of transactions for over one million customers and 700 apps across Facebook, MySpace, and Bebo. Combining forces with PlaySpan feels like a natural fit, and the team is absolutely thrilled to have joined the industry leader in the online games monetisation space.”

Ends.

About PlaySpan, Inc.

PlaySpan™ is the leader in monetization solutions for online games, virtual worlds, and social networks. PlaySpan's patent-pending in-game virtual goods commerce and micropayment platform enables game publishers and developers to generate new revenues, acquire new users, and extend the loyalty of existing users.

PlaySpan also provides global payment solutions for over 1,000 games through its subsidiary PayByCash® with 80 payment methods in 180 countries and ULTIMATE GAME CARD® available in over 21,000 retail locations across North America and several key markets worldwide.

PlaySpan is headquartered in Silicon Valley with offices in Charlottesville, Virginia, Cincinnati, Ohio and Mumbai. Investors include Easton Capital, Menlo Ventures, STIC and Novel TMT Ventures.

For more information about PlaySpan, visit http://corp.playspan.com


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