Interplay Owner to Take Over Rival
Titus Interactive, the French-based majority owner of Irvine-based video game maker Interplay Entertainment Corp., said Thursday that it plans to buy a controlling interest in a British competitor, Virgin Interactive Entertainment Limited.
Terms of the deal, which is set to close by year’s end, were not disclosed. The acquisition is designed to expand Titus’ distribution arm in Europe, officials said.
In February, Interplay acquired a 43.9% stake in Virgin to bolster the Irvine game maker’s operations, sell Interplay’s titles in Europe and market Virgin products in North America, South America and Japan.
Titus expects to pick up 50.1% of Virgin.
The remainder of Virgin is controlled by the company’s management team and outside investors.
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