MICROPROSE ACQUIRES PARAGON SOFTWARE
MICROPROSE ACQUIRES PARAGON SOFTWARE HUNT VALLEY, Md., July 27 /PRNewswire/ -- MicroProse, Inc.
(NASDAQ: MPRS) today announced its purchase of Paragon Software Corporation, an independent computer game development group in Greensburg, Pa. MicroProse has been marketing Paragon's computer entertainment products exclusively in the United States since 1988. This acquisition entitles MicroProse to sell Paragon games worldwide. The addition of Paragon products to the European sales and distribution channels should increase the revenues and profitability of MicroProse, Ltd., in Europe, as well as lower the costs of distributing Paragon's products domestically.
Additionally, the Paragon acquisition will provide MicroProse with design tools to strengthen its production of fantasy role-playing games. This acquisition establishes a satellite development group outside of MicroProse's primary United States operation in Hunt Valley, Maryland, and is consistent with the company's strategy of strengthening its development efforts. MicroProse's product development organization has over 220 people working in the United States, Europe, and Japan. Paragon has several products under development which will be released by MicroProse this year, including "Mantis," the first game designed for CD-ROM, as well as for IBM-PC's and compatibles. "We are delighted to be entering the CD-ROM market," said Bill Stealey, chairman and chief executive officer of MicroProse, Inc. "'Mantis' is a welcome addition to our exciting line-up of products." Stealey added, "Paragon has developed some technologies that will facilitate our production of fantasy role-playing games, a category we are entering with 'Darklands.' We can also share with them our comprehensive technology base. Both parties will benefit from this union. We are really excited about joining forces with the Paragon team." Paragon employs 19 people who now will be producing games for sale under the MicroProse. MicroProse, Inc., designs and markets interactive entertainment software for personal computers and videogame systems. Its products are distributed worldwide through retailers, distributors, and mass merchants. -0- 7/27/92 /CONTACT: Kathy Gilmore or Elizabeth Bake of MicroProse, 410-771-6700/ (MPRS) CO: MicroProse, Inc.; Paragon Software Corporation ST: Maryland, Pennsylvania IN: CPR SU: TNM
LD-AH -- NY114 -- 3739 07/27/92 18:35 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Jul 27, 1992|
|Previous Article:||OKEELANTA CORP. AND OSCEOLA FARMS CHARGE GAO REPORT RECOMMENDATIONS ARE FLAWED|
|Next Article:||'BEETHOVEN LIVES UPSTAIRS' EVENT AT LOS ANGELES CHILDREN'S MUSEUM POSTPONED DUE TO SCHEDULING CONFLICT|