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Take-Two Interactive Software, publishers of the Grand Theft Auto series of games, has rejected an unsolicited $2billion acquisition bid from Electronic Arts. The $26 per share cash bid was rejected by the Take-Two Board on the grounds that it …   

substantially undervalues Take-Two’s robust and enviable stable of game franchises, exceptional creative talent and strong consumer loyalty. We believe EA’s unsolicited offer is highly opportunistic and is attempting to take advantage of our upcoming release of Grand Theft Auto IV, one of the most valuable and durable franchises in the industry. Furthermore, the offer values the Company at a significant discount to its public peers and does not compensate Take-Two for its intrinsic value and the substantial synergies that the proposed combination would create.     

  The door is however open for an improved offer in the future. 

 

 An open letter from EA CEO John Riccitielo explains the thinking behind the offer ..   

Right now, Take-Two’s future is uncertain. Take-Two’s creative teams make fantastic games and the company has gotten some good interim support from a group of new corporate leaders. But Take-Two is facing a host of threats and – with or without combination with EA – we believe there is a strong likelihood that the company will be sold in the not-too-distant future. We also believe that EA’s proposal to acquire Take-Two is a good one for the people that make the games or are involved in leading these creative teams. We’re offering stable management with an executive team that truly understands games. EA has a powerful publishing capability. We want to offer these and other advantages to Take-Two’s creative teams and provide them an environment that shields these teams from unnecessary interference and allows them to keep making great games.  

 

 

 EA Open Letter  Rejection  

Tags: Electronic Arts, Take-Two Interactive Software

Telcogames Limited, a leading European mobile games distributor, has announced that Juan Montes has been appointed as chairman of the board.

Montes joins Telcogames with a long and well established pedigree in console and mobile video games. His previous roles have included; Vice President of Software Development for Sony Computer Entertainment Europe (SCEE), Vice President & CTO (EMEA) Mobile Content & Solutions for Motorola and MD Europe for Jamdat (acquired by Electronic Arts).

Montes extensive experience includes six years at SCEE where he was instrumental in the launch and establishment of the Sony PlayStation platform in Europe, the establishment of Motorolas’ mobile entertainment business unit followed by establishing the European arm of Jamdat Mobile.

Juan founded and operates the advisory company, Digital Content & Media Limited, where he provides strategic, operational and corporate advice to companies in the mobile entertainment sector and Venture Capital firms.

Montes is currently a non-executive director of Distinctive Developments. He was recently a non-executive director of Pocket Group, sold to WIN PLC on the 21st of January 2008. He is acknowledged as a key leader in the mobile gaming sector.

“I am delighted to be joining Telcogames at this exciting time for them and the industry at large. 2008 already feels like a year of change in the mobile industry and Telcogames are uniquely positioned to take advantage of this. It is for these reasons that I am joining Telcogames and I hope that with my experience and knowledge I will provide advice and direction to take the business forward”, Juan Montes said.

Headquartered in London, Telcogames is a global distributor of quality mobile games across all major formats including Symbian, Windows Mobile, Linux, J2ME and Brew. Investors include 3i, Nexit Ventures and The Capital Fund.

The company distributes mobile games to tier 1-3 carriers globally and is regarded as the leader in «off-portal» distribution. Telcogames’ portfolio of games consists of the best mobile games from over 100 different companies.

Telcogames is privately owned, and has offices in London, Liverpool, Seoul, Norrkoping, Tel Aviv and Sydney through its recent acquisition of multiplay provider Viva La Mobile. Telcogames uses proprietary technologies to offer something different to carriers and non-carriers than other distributors are able to. These technologies include; a proprietary deployment and reporting system which currently manages all 100+ suppliers content distributed to over 150 channels (carriers and off-portals); 3G multiplayer platform (Redstar) and portfolio of games; Smartphone portfolio of games and associated toolsets; shop front technology to allow carriers and off-portals to have a dedicated Telcogames wap shop that links directly into the Telcogames deployment system so that the wap shop is automatically and rapidly updated with the latest games from all its suppliers.
Full Release

Tags: 3i Group, Digital Content & Media, Electronic Arts, Jamdat, Motorola, Nexit Ventures, Sony Computer Entertainment Europe, Telcogames, The Capital Fund

Kynogon, the leader in Artificial Intelligence solutions for the game and simulation industries, announces today that Total Immersion Software has selected Kynapse as its AI middleware solution for the RealWorld simulation platform.

RealWorld, developed by Total Immersion Software under contract to the Defense Advanced Research Projects Agency (DARPA), delivers an intelligent tool suite providing drag and drop ease to rapidly create simulations so real that it can be used to train teams of professionals to handle complex situations such as military missions, rescue operations, and natural disasters.

“We have been very impressed by the Total Immersion Software vision. They perfectly combine military expertise and gaming technologies to reach the ambitious goals of “next generation” military simulations,” says Pierre Pontevia, CTO of Kynogon. “We expect our automatic path data generator to contribute highly to one of the most ambitious goals of RealWorld: the rapid and low-cost generation of simulation scenarios for real-life mission rehearsal.”

“Adding the AI capabilities of Kynapse to our RealWorld platform will help the users create quickly highly realistic behaviours and complex scenarios” said Pete Bonanni, CEO of Total Immersion Software. “It is one more essential step in our strategy to bring the best-in-class technology from the video game industry to the serious game arena.” [Read more]

Tags: Activision, Bethesda Softworks, Electronic Arts, Knogen, Lionhead Studios, Real Time Worlds, SEGA, Sony Online Entertainment, Spark Unlimited, Total Immersion Software, Turbine