Foundation 9 Entertainment Spins Off Prince Edward Island Studio
F9E Co-Founder Andrew Ayre to Take Reins of Studio
FOR IMMEDIATE RELEASE
NEWPORT BEACH, CA - May 25, 2007 - Foundation 9 Entertainment, the largest independent game developer in North America, announced today that it has spun off its Prince Edward Island, Canada based studio. The new entity will be known as Other Ocean Interactive; F9E will not retain any interest in the studio.
"We had great success launching our studio in PEI with tremendous and much-appreciated support from the provincial and federal agencies," said F9E CEO Jon Goldman. "However, as F9E's growth strategy has evolved, we have recognized the need to focus on larger studios, both our current ones and potential future additions to the company."
Andrew Ayre, one of the founders of Foundation 9 Entertainment and a native of Atlantic Canada, will become majority shareholder and CEO of Other Ocean.
"It's been a real pleasure being a part of the growth and success of Foundation 9 and it's exciting to bring this experience to a new opportunity," said Ayre. "I'm looking forward to growing game development in Atlantic Canada and further establishing the region as an up-and-coming location where top games are produced." The Charlottetown studio recently delivered the highly acclaimed Castlevania: Symphony of the Night on Xbox Live ® Arcade for Konami.
The spin-off is expected to be completed by early June 2007. Terms of the transaction were not disclosed.
About Foundation 9 Entertainment
Foundation 9 Entertainment is a premier developer of interactive entertainment products and properties, and the largest independent games developer in world. With studios in the San Francisco Bay Area, Vancouver, Boston, Los Angeles, Newport Beach, Eugene, Kirkland, and Austin, Foundation 9 Entertainment is a development powerhouse, uniquely positioned to maximize the value of entertainment properties across all entertainment genres.
Through its studios and core brands, Backbone Entertainment, The Collective, Shiny, Pipeworks, Amaze, ImaginEngine, and Digital Eclipse, Foundation 9 Entertainment has worked with the largest names in the game publishing world, including Electronic Arts, Konami, Sega, Capcom and Take-Two Interactive. The company creates titles for all age groups and all platforms, through licensed and original IP, as well as contract development. Its studios have developed more than 350 titles, including more than 30 in 2006 alone. For more information, please visit: www.F9E.com.
About Other Ocean Interactive
Other Ocean Interactive, formerly Backbone Charlottetown, was established on Prince Edward Island, Canada in March 2006. In its short history the studio has delivered, for Xbox Live Arcade, the Konami title Castlevania: Symphony of the Night and is developing Disney's Tron and Discs of Tron for the same platform. The studio is currently in development on other popular franchises for major publishers on handheld platforms and digital distribution platforms.
CONTACT:
Nicole Tanner
Foundation 9 Entertainment
nicolet@f9e.com