Mark Androvich
16:08 (BST)
09/05/2008
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10tacle and TGC reverse acquisition
10tacle Studios AG has announced a decision not to realise its intended takeover of The Games Company.
The companies first announced the transaction in December 2007.
Due to the restructuring and new focus of business activities at 10tacle Studios AG, the agreed increase in capital has not yet been realised according to the companies. The parties have therefore decided to reverse the transaction - leaving The Games Company as an autonomous developer.
"With the reverse transaction we have taken a step in the interests of all parties involved," said The Games Company CEO Markus Malti.
"TGC can continue its successful work and 10tacle Studios AG are free to newly position their company strategically as planned."
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