Take-Two Takes Visual Concepts

Take-Two Interactive Software, Inc. and SEGA Corporation Announce Take-Two's Acquisition of Visual Concepts and Kush Games and Sega officially out of the sports game and Take-Two Interactive Software, Inc. Announces Formation of 2K Games Publishing Label are articles covering Take-Two's acquisition of console sports game developer Visual Concepts to complement their newly acquired baseball agreement:
NEW YORK & TOKYO--(BUSINESS WIRE)--Jan. 25, 2005--Take-Two Interactive Software, Inc. (NASDAQ:TTWO - News) and SEGA Corporation and its affiliates announced today that Take-Two has purchased all of the outstanding capital stock of SEGA's California-based sports game development studio Visual Concepts Entertainment and its wholly-owned studio, Kush Games. Visual Concepts is the marketer and developer of the critically acclaimed 2K series of sports video games.

The purchase price was approximately $24 million in cash and includes the rights to all intellectual property associated with the sports titles, as well as rights to the 2K brand. The agreement also provides that Take-Two and SEGA will work together to bring sports titles developed by Visual Concepts to SEGA's arcade business. Additionally, Take-Two is negotiating an agreement with SEGA whereby SEGA will publish and distribute the 2K series of sports titles and certain other Take-Two games in Japan and other Asian territories.
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Jan 25, 2005, 12:56
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Re: No subject Jan 25, 2005, 12:56
Jan 25, 2005, 12:56
 
Again, EA didn't buy the NFL. It was a mutual agreement, just like the Take Two - MLBPA thing. The short-sighted sports business guys met with the deluded sports-game guys and concocted the deals, thinking them win-win situations.

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