Wall Street Sports, started in July 1997, offers stock market simulation games in which professional athletes are traded as securities. Sandbox runs fantasy sports leagues and fantasy stock market simulations. Both sites feature free memberships in leagues, and offer gift certificates and other rewards as incentives to members.
With the merger, for an undisclosed amount, the two companies will have about 1.8 million members, which they say makes them the biggest online site for playing games.
The new service is to be released in mid-August, with an intended URL of Sandbox.com. The headquarters will be in Reston, Va. Wall Street Sports' president Larry Cotter will be president of the new company, while Sandbox Chairman John Fullmer will chair the new company. Sandbox's headquarters are in Phoenix, Ariz., which will become the technical development center for Sandbox.com
The executives said in a conference call that no jobs will be lost as a result of the merger, and that they intend to ramp up hiring.
The merger "accelerates our mission to become the number one online entertainment company," Fullmer said. The company plans to branch out and develop different types of online games.
Developing a broad suite of games and key strategic partnerships will help Sandbox.com to build a strong brand name, Cotter added. He said it hopes to leverage existing partnerships with Lycos Inc. (Nasdaq:LCOS), XOOM and USAToday.com to build its brand.
Online sports and financial gaming Web sites Wall Street Sports, Inc. and Sandbox Entertainment Corp. said they would consolidate, and claimed the merger will create the largest online gaming company.
Wall Street Sports, started in July 1997, offers stock market simulation games in which professional athletes are traded as securities. Sandbox runs fantasy sports leagues and fantasy stock market simulations. Both sites feature free memberships in leagues, and offer gift certificates and other rewards as incentives to members.
With the merger, for an undisclosed amount, the two companies will have about 1.8 million members, which they say makes them the biggest online site for playing games.
The new service is to be released in mid-August, with an intended URL of Sandbox.com. The headquarters will be in Reston, Va. Wall Street Sports' president Larry Cotter will be president of the new company, while Sandbox Chairman John Fullmer will chair the new company. Sandbox's headquarters are in Phoenix, Ariz., which will become the technical development center for Sandbox.com
The executives said in a conference call that no jobs will be lost as a result of the merger, and that they intend to ramp up hiring.
The merger "accelerates our mission to become the number one online entertainment company," Fullmer said. The company plans to branch out and develop different types of online games.
Developing a broad suite of games and key strategic partnerships will help Sandbox.com to build a strong brand name, Cotter added. He said it hopes to leverage existing partnerships with Lycos Inc. (Nasdaq:LCOS), XOOM and USAToday.com to build its brand.
