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Acclaim to acquire world's largest independent entertainment software developers; company to purchase both Probe and Sculptured Software in stock swaps.

GLEN COVE, N.Y.--(BUSINESS WIRE)--October 10, 1995-- Significantly expanding and advancing its product development capabilities, Acclaim Entertainment, Inc. (NASDAQ:AKLM) today announced it has entered into agreements to acquire both Probe Entertainment Ltd. and Sculptured Software Inc., two of the world's largest independent entertainment software developers. Combined, the acquisitions bring approximately 250 programmers, musicians, graphic artists and engineers to Acclaim. The Sculptured transaction has closed, subject only to the filing of applicable merger documentation in Utah. The Probe transaction is subject to regulatory approvals and customary closing conditions. Acclaim intends to account for both transactions as a pooling of interests. Further financial details have not been disclosed.

Probe and Sculptured Software have each designed numerous best-selling titles for a variety of interactive entertainment industry publishers, including Primal Rage (Time Warner Interactive); Mortal Kombat III (Williams); Fifa Soccer (THQ/Electronic Arts); NHL Stanley Cup Hockey (Nintendo); Jack Nicklaus Ultimate Golf (Accolade); Lemmings (Sega/Psygnosis); Super Star Wars, Super Empire Strikes Back and Return of the Jedi (JVC/LucasArts); and Tecmo NBA Basketball (Tecmo). Among hit titles the companies have developed for Acclaim are: Mortal Kombat, Mortal Kombat II, WWF WrestleMania, Batman Forever, The Simpsons, T2: Judgment Day and Alien 3.

"Through these acquisitions our product development resources have exponentially grown, both in terms of design talent and the storehouses of proprietary tools and technology that are key to driving our continued leadership position in this industry," said Robert Holmes, president of Acclaim. "Both Probe and

Sculptured have created hundreds of best-selling titles for a variety of industry publishers -- capabilities that will now be utilized exclusively for Acclaim. During a time in our industry's growth when development resources are becoming increasingly valuable, we consider these vital and exciting acquisitions which bring to Acclaim some of the most creative and technologically astute talent in the world today, and positions us for future growth."

Both Probe and Sculptured Software have developed a broad range of proprietary hardware and software technology for quick, state-of-the-art development, including cross-platform compilers, assemblers and linkers; object-oriented tools; high end 2-D and 3-D MPC development systems; video compression code; source-level debuggers; art preparation tools; 3-D graphics workstations as well as digital audio and video recording and editing capabilities. The companies are well-versed in development for all interactive entertainment systems, including game hardware and PC CD-ROM platforms.

"Our goal has always been to become the preeminent interactive entertainment studio worldwide, and by combining our technology, audio, graphics, programming and development expertise with Acclaim's licensed properties, distribution and marketing strength, we will create an unparalleled force in interactive entertainment," said George Metos, president of Sculptured Software.

"With the ever-increasing worldwide demand for entertainment products, Acclaim and Probe make a winning combination, gaining lightning development speed and strength by pooling our cutting edge technologies, management and programming talent," said Fergus McGovern, managing director of Probe. "We look forward to bringing the world unrivaled play experiences and entertainment as part of the growing and significant entertainment power that is Acclaim."

Acclaim's acquisitions of Probe and Sculptured Software follows its acquisition earlier this year of Iguana Entertainment Inc., a leading interactive entertainment software developer, now a wholly owned Acclaim subsidiary with offices in Texas and the U.K.

London-based Probe, the leading independent entertainment software developer worldwide, has developed in excess of 400 software products in its 11-year history, for personal computer, CD and cartridge-based entertainment platforms, including such best-sellers as Fifa Soccer, Mortal Kombat, Mortal Kombat II, Primal Rage, Lemmings, Batman Forever, Terminator 2 and Alien 3.

Sculptured Software, headquartered in Salt Lake City, UT, is North America's largest entertainment software developer, and has created award-winning hit titles for Nintendo, Sega, Sony and PC CD-ROM systems. Among the best-selling titles Sculptured has designed are Mortal Kombat, Mortal Kombat II and WWF WrestleMania for Acclaim, as well as Super Empire Strikes Back, Super Star Wars, Super Return of the Jedi and NCAA Basketball. Forthcoming Sculptured titles include Doom and Mortal Kombat III.

Acclaim Entertainment, Inc. is a leading worldwide publisher of software for Nintendo, Sega, Sony, personal computer and CD-ROM hardware systems; and comic books under the Valiant, Armada and Windjammer imprints. Acclaim also develops coin-operated arcade and ticket redemption games, and operates blue screen and motion capture studios, as well as A.D.I., a global sales and distribution company for products from a variety of entertainment software publishers, including Digital Pictures, Domark, Interplay, Marvel and Sunsoft. Acclaim, which recently formed a new company with Tele-Communications, Inc. for electronically distributed interactive entertainment, is publicly traded on the NASDAQ National Market System under the symbol AKLM.

CONTACT: Acclaim Entertainment, Inc., Glen Cove

(Media) or (Financial)

Allyne Mills Anthony Williams

516/656-5000 Dawn Berrie

516/656-5000
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Copyright 1995, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 
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Date:Oct 10, 1995
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