Tag Archives: takeover
Fri, Oct 24, 2008 | 20:02 BST
Wed, Oct 15, 2008 | 09:14 BST
Speaking to the Wall Street Journal, EA boss John Riccitiello has described the firm’s failed attempt to buy Take-Two as a “waste of ink, primarily in the New York Post.”
He added that EA walked away from the deal as “time was of the essence, because we wanted to impact holiday 2008 sales of Grand Theft Auto IV”.
He described his impulse to buy Take-Two as almost a charitable effort before the holidays, “to help that company get through what has been an uneven profit experience.”
More through there.
Tue, Oct 14, 2008 | 14:41 BST
SouthPeak’s confirmed it’s acquired Mike Wilson’s Gamecock.
Financial terms haven’t been disclosed.
“We are thrilled to be joining forces with SouthPeak to continue to bring great original titles from independent developers to market with a stronger sales and distribution reach,” said Gamecock boss Mike Wilson.
“We have followed each other’s progress closely over the last two years, and combining our team with theirs results in a very strong and well-rounded force in the market.”
Press release after the link.
Sat, Oct 11, 2008 | 10:50 BST
Infogrames has completed its acquisition of Atari, the US-based publisher, in a deal worth around $11 million.
The French company can now definitively unite the Atari brand, the use of which Infogrames has had the right to in Europe and other parts of the world for some time.
More on GI.
Thu, Oct 02, 2008 | 14:33 BST
After a protracted game of cat and merger with EA and endless announcements of takeover talks with other parties, Take-Two confirmed today that it intends to remain independent.
“Take-Two’s Board of Directors has determined that it is in the best interests of stockholders to conclude its review of strategic alternatives and to continue operating and building Take-Two as an independent company,” the company said.
And that’s that. More on Reuters.
Thu, Oct 02, 2008 | 05:10 BST
Koei boss Kenji Matsubara has said the company’s merger with Tecmo is all about staying alive in the modern climate, and that further acquisitions may be made by the newly formed firm.
“In the 3 trillion yen ($28 billion) global games market, we have revenue of 40 billion yen, which begs the question of whether we can survive,” Matsubara said.
“We plan to make the most of this merger and move on to the next step, which may include acquisitions.”
As previously reported, a holding company will be formed to ease through the merger next year.
Fri, Sep 19, 2008 | 07:45 BST
Tecmo and Koei have announced that a solid plan to merge the two companies will be in place within two months, Kotaku reports.
“A committee has been formed to oversee the business of the two newly-merged companies, comprised of the presidents of both companies (acting as joint-chairmen) as well as executive representatives and non-executive representatives of both companies,” said the firms in a statement.
“This integration will allow employees to demonstrate the full extent of their abilities, so as to best serve the company in the future. This committee is expected to produce a concrete integration scheme for unifying the two companies in the next two months.”
The new emerges after Tecmo shrugged off Square advances at the beginning of September.
Wed, Sep 17, 2008 | 18:56 BST
Wed, Sep 17, 2008 | 12:39 BST
This Inquirer piece is rumouring that Google may be moving to buy Valve.
The story cites “well-placed sources” and was filed from Austin GDC.
If true, Steam is the main target, says the site.
Also, it would be contrary to comments from Gabe Newell at Games Convention last month. Snip from the interview:
So you’ve got no interest in selling Valve?
GN: Right now we’re super-happy. We’ve been an independent company from day one, and we think that that contributes to our good decision-making. We’re much more concerned about finding more people that are like us and want to work with us – and doing a great job for customers – than looking for people that want to buy the company.
Have you had any approaches for the company?
GN: I get approached a couple of times a week by people saying, ‘Can we invest in you, can we buy you?’ That’s been true for several years. We’re having too much fun.
Full thing through the link.
Mon, Sep 15, 2008 | 14:55 BST
Mon, Sep 15, 2008 | 14:47 BST
If you bought into the Take-Two dream in the past few month, you might do best to hold onto your hat: Wedbush Morgan just revised its price target from $26 to $16.50.
The news comes in the wake of confirmation that buyout talks between the GTA publisher and EA are now officially over.
“Notwithstanding significantly better than expected Q3 results, we continue to question the sustainability of earnings, and wonder about the potential for a ‘bidding war’ to attract several key employees,” said WM analyst Michael Pachter.
See the full note after the link.
Mon, Sep 15, 2008 | 06:53 BST
Shame, that. We were hoping for something exciting. Instead, however, EA and Take-Two have both issued statements confirming that EA has put the kibosh on any further talks with Take-Two.
“After careful consideration, including a management presentation and review of other due diligence materials provided by Take-Two Interactive Software Inc, EA has decided not to make a proposal to acquire Take-Two and has terminated discussions with Take-Two,” reads EA’s side of the story.
Quite the unsatisfying conclusion, huh? It’s kind of like cutting off the report right here and not posting EA and Take-Two’s full sta–
Kidding. They’re after the break.
Fri, Sep 12, 2008 | 13:06 BST
FreeStyleGames has sold out to Activision, the publisher confirmed this morning.
The UK studio developed B-Boy for PS2 and PSP. It is currently working on Guitar Hero content for Acti-Blizz.
“Activision Publishing is the undisputed leader in the music-based games and we see tremendous opportunity for continued growth, particularly in Europe,” said Activision boss Mike Griffith.
“An important part of our European growth strategy is to work with local developers and provide music content that resonates with the market. FreeStyleGames has an award-winning team with a history of developing innovative and creative music-based games and they are uniquely positioned to help us expand our leadership in the genre.”
Press release after the link.
Tue, Sep 09, 2008 | 22:25 BST
Fri, Sep 05, 2008 | 06:52 BST
Following news that Tecmo had spurned Square Enix’s offer to buy the firm, and had instead started serious negotiations regarding a Koei merger, Square formally withdraw its bid last night.
It also emerged that Square has asked questions of Tecmo as regards to the move, but had received no response. The Square statement reads:
The Company yesterday received a written notice of the rejection of the Proposal from the board of directors of TECMO. Followed by the notice, the Company immediately requested TECMO for explanation of some issues to receive no response to it, even reasons of the rejection.
Under such circumstances, the Company is unable to make appropriate modifications to major terms of the Proposal including the TOB price, and determines that it is extremely difficult to continue the discussions with TECMO based on the Proposal. The Company, therefore, has decided to withdraw from the Proposal.
Thu, Sep 04, 2008 | 09:23 BST
According to this Kotaku piece, Tecmo has formally rejected Square Enix’s offer to buy the firm, essentially saying it can still grow without selling.
“In our company’s source of revenue, as a result of a guarantee with our capable workers, a guarantee of steady game development and the preservation of our brand, there is a high possibility of improvement… Thus, our Managing Board declines the offer,” said Tecmo in a statement.
Tecmo has now released a statement saying it is in serious talks to merge with Koei. Again, from Kotaku:
As the game industry environment changes with high-powered hardware, portable game machines and rapid growth as well as online mobile games, the accelerating consumer needs are varied and sophisticated. The industry has intensified. Multi-platform and the importance of overseas markets is pushing the industry towards global competition.
Under these circumstances, these two companies have excellent financial positions, strengths and the ability to take advantage of each other in order to improve profitability and solidified the foundation of a worldwide leader.
More through the links.
Fri, Aug 29, 2008 | 15:49 BST
Square Enix just formally announced its Tecmo bid in an English press release, saying its intentions are “friendly” and consent’s needed for the move from the Tecmno board by September 4.
“We believe that Tecmo will be able to make a great leap forward by joining the Square Enix Group, which will provide the group with further growth opportunities as well,” said the statement.
“We are planning to position Tecmo as a wholly-owned subsidiary of Square Enix Holdings maintaining Tecmo’s current organization and brand as in the cases of Square Enix and Taito.”
Press release after the link. News of the move first emerged this morning.
Fri, Aug 29, 2008 | 08:38 BST
Square Enix has released a statement explaining his Tecmo takeover plan. It includes offering to purchase a controlling interest in Tecmo by purchasing shares in that company at 30 percent premium (¥960 a share compared to yesterday’s close price of ¥706 a share). The Tecmo Board of Directors has until September 4 to approve or reject this offer. If rejected, Square states, “We will withdraw our offer.”
More through the link.
Fri, Aug 29, 2008 | 08:39 BST
Update 2: Square’s released a statement saying it’s prepared to pay a 30 percent premium on Tecmo’s stock. Details here.
Update: It’s been announced. IGN’s reporting it as well.
According to this sourceless Kotaku piece, Square Enix is to make an imminent takeover move on beleaguered publisher, Tecmo. From the piece:
Today at 1pm Japan Time, Square Enix will be outlining its plans for a friendly takeover troubled game maker Tecmo. Square Enix’s takeover would help the company gain a stronger foothold in the U.S. market with popular Tecmo titles like the Ninja Gaiden and Dead or Alive games. What’s more, Tecmo’s games will help strengthen Square Enix’s current portfolio, which is heavily dependent on RPGs.
Hopefully more will come out about this later in the day.
Tue, Aug 26, 2008 | 07:11 BST
According to this Reuters story, EA and Take-Two are now to enter previously-announced private talks about the potential merger of the two firms, and have signed documents to ensure all negotiations are kept out of the public eye.
“As a result, EA does not intend to make any further announcements regarding the status of any discussions or negotiations with Take-Two unless and until discussions between EA and Take-Two have been terminated or such parties have entered into a transaction,” EA said in a regulatory SEC filing.
EA offered to buy Take-Two for $25.74 a share, or about $2 billion, in April. The bid was repeatedly rejected as too low.
More through the link.