Acquisition of GT Interactive
Then in December 1999, IESA made one of the most expensive acquisitions in the company's history. Infogrames bought 70% of GT Interactive for $135 million, and assumed the new subsidiary's $75 million bank debt. By June 2000 Infogrames had invested another $30 million in GT Interactive. IESA justified the purchase by stating that GT Interactive provided Infogrames with a "distribution network for all of its products in the United States, as well as a catalog of products that includes Driver, Oddworld, Unreal Tournament and Deer Hunter".
Included in the GT Interactive purchase were the game development studios Humongous Entertainment, Legend Entertainment and Reflections Interactive.
GT Interactive became Infogrames, Inc.
In 2000 the developer Paradigm Entertainment was bought for $19.5 million and in-flight games developer Den-o-Tech Int. (DTI), later renamed to Infogrames DTI, was also acquired for $5.6 million.
Read more about this topic: Infogrames Entertainment, SA, History, 1996-2002, Growth Through Acquisition
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“Wars and revolutions and battles are due simply and solely to the body and its desires. All wars are undertaken for the acquisition of wealth; and the reason why we have to acquire wealth is the body, because we are slaves in its service.”
—Socrates (469–399 B.C.)
“Wars and revolutions and battles are due simply and solely to the body and its desires. All wars are undertaken for the acquisition of wealth; and the reason why we have to acquire wealth is the body, because we are slaves in its service.”
—Socrates (469–399 B.C.)