Oli Welsh
16:49 (BST)
07/09/2007
Related articles
Take-Two sells Joytech to Mad Catz
All employees will make the move
Take-Two Interactive has announced that is has sold its game accessories business Joytech to rival peripheral manufacturer Mad Catz.
Joytech was a wholly owned subisdiary of Take-Two, and has been sold with all its assets, including all staff.
The publisher had previously said it was planning to divest all its non-core businesses.
"The sale of the Joytech assets is consistent with one of the key goals we established in our 100 Day Plan: to develop strategic alternatives for any operations that we determined to be outside our core publishing business," said Ben Feder, Take-Two's Chief Executive Officer, in a press release.
"We are particularly pleased that we accomplished this goal in a manner that will allow substantially all of our Joytech employees in the US and UK to join Mad Catz, which is a highly respected provider of video game peripherals," he added.
The release also notes that the sale is not expected to be material to Take-Two's financial results.
Take-Two's "100 Day Plan" was announced by the company's new management in April, shortly after the previous management was forced out by investors.
To comment on this article, or view other users comments, you need to register for the GamesIndustry.biz Network.
