Acquisition of Hasbro Interactive Complete
LYON, FRANCE, January 29, 2001 - Infogrames Entertainment SA (Euronext
5257) announced today that it has completed its acquisition of Hasbro
Interactive from Hasbro, Inc. (NYSE:HAS), creating one of the foremost
powerhouses in the mass market digital interactive entertainment world.
"The completion of the acquisition is extremely exciting for us, as it
fits perfectly with our corporate strategy of building the premier
publisher of digital interactive entertainment for the whole family,"
stated Bruno Bonnell, chairman and CEO of Infogrames. "We felt that
Hasbro Interactive was an ideal partner due to its lineup of over 250
titles, together with licensing access to Hasbro's 600 franchises, in
addition to our shared vision and commitment to shareholder value."
Effective immediately, Hasbro Interactive will utilize the Infogrames
name and branding strategy. Further details regarding the integration
of Hasbro Interactive into the Infogrames family will be provided in
the coming weeks.
The strategic agreement, signed this past December, is comprised of
three main elements, including Infogrames' acquisition of all of Hasbro
Interactive's assets including Atari and MicroProse; the acquisition of
Games.com; and a long-term licensing agreement with Hasbro, Inc. giving
Infogrames exclusive rights to develop and publish digital interactive
games based on current and future Hasbro properties on all existing and
future digital interactive formats.
Infogrames purchased 100% of the common stock of Hasbro Interactive for
$100 million - comprised of $95 million in Infogrames Entertainment SA
securities (approximately 4.5 million common shares) and $5 million in
cash. The deal was unanimously approved at a general meeting of
Infogrames Entertainment shareholders on January 23.
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