Publisher Majesco has announced that it has completed its merger with ConnectivCorp, in a deal which effectively sees the company using ConnectivCorp as a vehicle for a stock market flotation.
Under the terms of the deal, Majesco shareholders will be issued approximately 80 per cent of ConnectivCorp's stock, with Majesco president Jesse Sutton taking over as ConnectivCorp CEO. ConnectivCorp is expected to change its name to Majesco Holdings shortly.
"The advantages of this merger and having access to the public markets will enable Majesco to raise its profile and secure additional funding to enhance its product lineup and expand its product development capabilities," commented Majesco chairman Morris Sutton. "Jesseās promotion to Chief Executive Officer of a public company is the culmination of over 17 years of dedication to and growth of Majesco, and acknowledges the significant accomplishments achieved by him during this time."
Majesco is known mostly for its presence in the value market in the USA, but it recently achieved full-price success with the gothic action title BloodRayne. A sequel to that title is planned for the second half of 2004, along with the first in a trilogy of action adventure titles, Advent Rising.