London, UK – 25 July 2008 Empire Interactive, a wholly owned subsidiary of Silverstar Holdings (NASDAQ: SSTR), can today confirm that internal development studio Razorworks has been purchased by Rebellion. During the transition Razorworks will continue to deliver assets for Empire’s forthcoming Pipe Mania for PS2, PSP, PC and Nintendo DS.
“Further to our recent media announcement, we are very pleased to confirm that we have successfully completed the sale of Razorworks to a very appropriate suitor.” Said Clive Kabatznik, CEO, Silverstar Holdings, Ltd “Rebellion are one of the foremost Independent European developers and we know that Razorworks skills will compliment their existing organisation. We wish both parties the very best and look forward to working with them in the future.”
Jason Kingsley, CEO and Creative Director of Rebellion said, “We’ve been keeping our eye on Razorworks since we bought Strangelight from Empire Interactive in 2006. We heard some very good things about the set-up, the team and their approach, which is very similar to our own. So, when we had the opportunity to buy the studio, we seized it with both hands.”
Chris Kingsley, CTO of Rebellion added, “The Razorworks purchase is in line with our ambitious expansion plans. The Razorworks team will be joining us in the Oxford studio and will bring a raft of experience to our current and new projects. Razorworks will also be the focal point in expanding Rebellion knowledge base and portfolio.
Jason concludes, “At a time when the UK industry faces many challenges, keeping and retaining a team with a proven track record is essential if UK developers are to compete on the world stage. We’re very happy to welcome Razorworks to Rebellion and we look forward to working together on some very exciting projects.”
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About Empire Interactive:
Empire Interactive is a leading publisher of interactive entertainment software that has been established for 19 years. Headquartered in the UK, Empire Interactive also has offices in the US, Germany, France, Spain and Italy. The company develops and publishes a varied range of titles for all current platforms in the US, Europe and Asia. Games such as Starsky & Hutch, Big Mutha Truckers, Ford Racing and FlatOut have all enjoyed success across the world. Its budget label, Xplosiv, is one of the fastest growing in Europe. Further information about Empire Interactive and its products can be found at www.empireinteractive.com.
About Silverstar Holdings:
Silverstar Holdings Ltd. is a publicly traded company (NASDAQ: SSTR), focusing on acquiring controlling positions in high-growth retail-driven and fee-based electronic game businesses that stand to benefit from the economies of scale generated by the Internet and other technology-related platforms. It currently owns Empire Interactive, PLC and Strategy First, Inc., a leading development and worldwide publisher of entertainment software for the PC.