Electronic Arts Enters Into Long Term Development Agreement and Makes Investment in Software Developer Kodiak Interactive; Salt Lake City Studio to Develop WCW Titles.
Also announced was a long-term multiple title development agreement between the two companies. The first titles developed under the agreement will be Electronic Arts' new games based on the World Championship Wrestling(tm) license for the PlayStation(R) and Nintendo(R) 64 systems. Financial terms of the agreement were not disclosed.
The 36-person Kodiak Studios was founded in 1997 by George Metos, former president and founder of Sculptured Software, Inc. and a core group of people also from Sculptured Software, Inc. The company's founding group of more than 20 game industry veterans has played key roles in of some of the best selling home entertainment titles ever released including MortalKombat, WWF Wrestling, Super Star Wars, Red Baron, NHL Stanley Cup and Doom.
Electronic Arts' investment in Kodiak follows EA's acquisition of Maitland, Florida developer Tiburon Entertainment in April and is part of the company's strategy to invest in or acquire high-quality entertainment software studios.
"Kodiak is a dynamic, growing developer with a great team of experienced producers, designers, programmers and artists," said Don Mattrick, president of worldwide studios for Electronic Arts. "The portfolio of games created by their industry veterans is impressive. We are looking forward to applying the talents of this innovative team to our products."
"We are delighted to be partnering with the premier publisher and distributor of interactive entertainment," said George Metos, president and founder of Kodiak. "The opportunity to create a whole new EA franchise based on World Championship Wrestling is exciting."
Kodiak Interactive Software Studios, headquartered in Salt Lake City, Utah, is a full service interactive entertainment software development studio focused on the creation of state of the art original games for all leading hardware platforms. More information about Kodiak can be found on the Internet at http://www.kodiakgames.com.
Electronic Arts, headquartered in San Mateo, California, is the world's leading interactive entertainment software company. Founded in 1982, Electronic Arts posted revenues of $909 million for fiscal 1998. The company develops, publishes and distributes software worldwide for personal computers and advanced entertainment systems. Electronic Arts markets its products under six brand names: Electronic Arts, EA SPORTS(tm), Maxis(tm), Origin Systems(tm) Inc., Bullfrog(tm) Productions Ltd. and Jane's(R) Combat Simulations. More information about EA's products and full text of press releases can be found on the Internet at http://www.ea.com.
Note to Editors: Electronic Arts, EA SPORTS, Maxis, Origin Systems and Bullfrog are trademarks or registered trademarks of Electronic Arts or its wholly owned subsidiaries in the United States and/or other countries. World Championship Wrestling and WCW are trademarks of World Championship Wrestling, Inc. and are used under license. PlayStation is a registered trademark of Sony Computer Entertainment, Inc. Nintendo(R) 64 is a trademark of Nintendo of America, Inc. Jane's is a registered trademark of Jane's Information Group, Ltd. All other trademarks are the property of their respective owners.
CONTACT: Electronic Arts Pat Becker (Dir. Corp. Comm.), 650/513-7523 Caroline Hughes (Dir. Investor Relations), 650/513-7860
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|Date:||Aug 4, 1998|
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