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Barry
Mr. Do It All
Oct 12, 2004, 4:56 PM
Post #1 of 1
(959 views)
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Midway Acquires Inevitable Entertainment
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Midway announced that it has acquired Austin, Texas-based Inevitable Entertainment Inc., the development studio working on Midway’s upcoming new videogame, AREA 51. Midway acquired privately-held Inevitable in an all-stock transaction for 218,421 Midway common shares. The acquisition accelerates Midway’s previously announced plans to open an Austin studio and increases the Company’s internal development resources.
Midway president and chief executive officer David F. Zucker commented, “In acquiring Inevitable Entertainment, we have added an extremely creative development group to our product development organization and furthered our ability to deliver high-quality, compelling content. Our increased internal product development capabilities offer an important balance and blend with our external development partners, and enable us to continue to publish critically and commercially successful software for current and future systems.”
Based in Austin’s technology corridor, Inevitable Entertainment is an innovative developer of high-quality interactive entertainment products. Established in 2000, Inevitable quickly achieved success through their first effort, the engaging and critically-acclaimed Tribes Aerial Assault which was the first online multiplayer first-person shooter for the PlayStation 2. The studio is currently developing Midway’s AREA 51, which is scheduled for release in the first half of 2005 and features the voice-acting talents of David Duchovny, Powers Boothe and Marilyn Manson. AREA 51 is also expected to be the subject of an upcoming motion picture from Paramount.
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