Printer Friendly

ACCLAIM TO ENTER SEGA MARKET; ANNOUNCES PLANS FOR PUBLIC OFFERING

     ACCLAIM TO ENTER SEGA MARKET; ANNOUNCES PLANS FOR PUBLIC OFFERING
    OYSTER BAY, N.Y., Nov. 5 /PRNewswire/ -- Acclaim Entertainment, Inc. (NASDAQ: AKLM) announced today that it has reached an agreement in principle with Sega of America, Inc., whereby Acclaim will market and distribute software for Sega's 16-bit Genesis and portable Game Gear hardware systems.
    "As a multinational, multiformat software company, our move to publish Sega product is a natural evolution," said Gregory Fischbach, chairman and chief executive officer of Acclaim.  "With more than 4 million Genesis hardware systems worldwide and an installed base approaching 2 million units in the U.S. alone, Sega represents an exciting and viable segment of the interactive entertainment market."
    Acclaim's first Sega products will be unveiled at the forthcoming January Consumer Electronics Show in Las Vegas, Nev., and company executives say Acclaim expects to bring its first Sega Genesis and Game Gear titles to market this spring.
    "Acclaim has long been recognized as an industry leader," said Tom Kalinske, chief executive officer of Sega of America, Inc.  "We are extremely pleased to have Acclaim as a Sega licensee and look forward to a positive and mutually beneficial working relationship."
    Acclaim executives also announced that the company plans to file a registration statement with the Securities and Exchange Commission covering an underwritten public offering of 4 million shares of common stock, to be sold by the company.
    The offering will be effected to reduce short-term indebtedness and increase working capital in support of Acclaim's expanding operations, including its Sega market entry, increased domestic manufacturing, and the expansion of operations in Europe.
    A registration statement relating to these securities will be filed with the Securities and Exchange Commission and has not yet become effective.  The offering will be made only by the means of the prospectus included in the registration statement.  The common stock may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.  This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
    Acclaim Entertainment, Inc., with offices in Canada, Germany, Japan and the United Kingdom, is a leading worldwide publisher, marketer, manufacturer and distributor of interactive software and accessories under the Acclaim and LJN labels.
    -0-        11/5/91
    /CONTACT:  Robert Holmes and Allyne Mills of Acclaim Entertainment, 516-922-2400/
    (AKLM) CO:  Acclaim Entertainment, Inc.; Sega of America, Inc. ST:  New York IN:  CPR SU:  OFR CK-KW -- NY078 -- 1433 11/05/91 17:26 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 5, 1991
Words:452
Previous Article:GENERAL DYNAMICS DELAYS LAUNCH OF ATLAS II AND EUTELSAT II
Next Article:SIZELER PROPERTY INVESTORS COMPLETES OFFERING OF COMMON STOCK
Topics:


Related Articles
ACCLAIM ENTERTAINMENT COMMENCES STOCK OFFERING
ACCLAIM REPORTS RECORD FIRST QUARTER REVENUES; PROFITS INCREASE 500 PERCENT
ACCLAIM TO ENTER JAPANESE NINTENDO MARKET FIRST U.S. COMPANY TO PUBLISH 16-BIT SOFTWARE IN JAPAN
ACCLAIM TO ENTER JAPANESE NINTENDO MARKET FIRST U.S. COMPANY TO PUBLISH 16-BIT SOFTWARE IN JAPAN
ACCLAIM REPORTS RECORD QUARTERLY REVENUES
CPTV APPOINTS FORMER SEGA OF AMERICA PRESIDENT TO BOARD; ANNOUNCES NEW VIDEO LABEL; DIVESTS TV COMMERCIAL SUBSIDIARY
CPTV REPORTS SIGNIFICANT REVENUE GAINS FOR THIRD QUARTER; COMPLETES SALE OF TV COMMERCIAL SUBSIDIARY;
3DO joining PC games.
Acclaim releasing 50 titles backed by $10M campaign.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters