Mad Catz acquires Take-Two's Joytech assets

Posted Sep 7, 2007 at 11:53AM EST by QJ Staff

Listed in: News Tags: Joytech, Mad Catz, Take-Two Interactive

Take-Two Interactive has begun its plans to divest its non-core properties starting with the transfer of Joytech subsidiary assets to popular game accessory maker Mad Catz. The deal, will transfer ownership of hard assets as well as jurisdiction of employees under the firm.

Take-Two CEO Ben Feder says that the move is part of the company's 100 day plan to develop strategic alternatives to the assets that they will be dropping.

"We are particularly pleased that we accomplished this goal in a manner that will allow substantially all of our Joytech employees in the U.S. and U.K. to join Mad Catz, which is a highly respected provider of video game peripherals," he adds.

The deal is a routine operation move and should not affect corporate finances in a major way, according to the publisher.

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Mad Catz acquires Take-Two's Joytech assets

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