TDK MEDIACTIVE ANNOUNCES BUYOUT.Byline: Gregory J. Wilcox Staff Writer WESTLAKE VILLAGE - TDK Mediactive TDK Mediactive is a California-based video game publisher that published video games based on licensed properties such as:
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of City-based video game company in a deal valued at $22.7 million, officials said Wednesday. Terms call for Westlake Village-based TDK TDK Türk Dil Kurumu (Turkish Language Council) TDK The Dark Knights (gaming clan) TDK Tokyo Denkikagaku Kogyo KK (TDK Electronics Co. Ltd. to merge with a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Take-Two Interactive “Take Two” redirects here. For other uses, see Take Two (disambiguation). Take-Two Interactive Software, Inc. (NASDAQ: TTWO) is an American publisher, developer, and distributor of video and computer games and video game peripherals. Software Inc. TDK's name may also change. Vincent J. Bitetti, TDK's chief executive officer, will continue to run the new Take-Two subsidiary, which will remain in Westlake Village. ``We're very excited about it. We think it's obviously a good fit and that was our primary concern doing any kind of deal with someone who needed what we brought to the table,'' Bitetti said. TDK was formed in 1990 as Sound Source Interactive, specializing in what was then called ``edutainment publishing.'' In November 2000, TDK - best known for manufacturing video and audio tapes - bought Sound Source. This acquisition gives Take-Two, which has about 1,000 employees, exclusive North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. distribution rights for certain TDK titles, including ``The Haunted Mansion,'' currently scheduled for launch in mid-October in connection with the Thanksgiving release of the Disney feature film. Among other products, the distribution agreement includes ``Star Trek  Editing of this page by unregistered or newly registered users is currently disabled due to vandalism. : Shattered Universe'' and ``Corvette corvette, small warship, classed between a frigate and a sloop-of-war. Corvettes usually were flush-decked and carried fewer than 28 guns. They were widely employed in escorting convoys and attacking merchant ships during the great naval wars of the late 18th and ,'' both
scheduled for launch in late October.
Wall street cheered the deal, boosting the stock price of both companies. TDK shares closed at 54 cents, up 14 cents or 35 percent. Take-Two closed at $36.38, up $6.63 or 22.3 percent. ``It's a great deal for Take-Two,'' said analyst Michael Pachter at Wedbush Morgan Securities in Los Angeles. TDK, which has about 50 employees, is experienced in sniffing out good deals in the sector and has experience in the licensing arena. For example, TDK got the licensing rights to ``Shrek'' after everyone else passed on it, he said. ``TDK excels at licensing and getting good deals on overlooked properties,'' Pachter said. And TDK's business should grow because of Take-Two's game development and marketing muscle. ``In a little over two years, TDK Mediactive has become a meaningful player in the interactive entertainment industry by identifying, securing and building strong video game franchises based on popular, well-established licensed brands,'' Jeffrey C. Lapin, Take-Two's chief executive officer, said in a statement. Take-Two also said on Wednesday that it earned $7.7 million, or 18 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , in the third quarter, up from a year-earlier profit of $4.8 million, or 12 cents per share. Revenue jumped to $155.6 million from $122.5 million a year earlier, a gain of 27 percent. Robert DeLean, an analyst at Morgan Keegan & Co. in Memphis, said TDK is not a big acquisition for Take-Two. ``It doesn't seem like what Take-Two does best. They don't have a lot of licensing deals,'' he said. ``For Take-Two maybe it's a win if they get some licensing talent they didn't have and for TDK it's a win because companies that size have to find a partner or they go away.'' Gregory J. Wilcox, (818) 713-3743 greg.wilcox(at)dailynews.com |
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