Mark Androvich
17:45 (BST)
20/03/2008
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Ubisoft acquires rights to Clancy name
Expects royalty savings of EUR 5 million per year
Ubisoft has announced that it has acquired the intellectual property rights to the Tom Clancy name for use in videogames and related products to include books and movies.
The company did not disclose the terms of the deal.
Ubisoft - which currently licenses the Tom Clancy name for games such as Splinter Cell, Ghost Recon and Rainbow Six - will also ake additional, unspecified payments for the IP rights during each of its next two fiscal years.
The company announced that royalty savings generated by the acquisition are expected to have an average positive impact on operating profit of at least EUR 5 million per year.
It now expects a net cash position of about EUR 130 million at the end of its fiscal year on March 31 - down from the previous forecast of EUR 150 million.
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