NEWS - Monday, August 9, 2004

Hip Acquires ARUSH Entertainment

Hip Interactive Corp., Canada’s leading provider of electronic entertainment, including video games, PC games, accessories and movies, announced today that it completed the acquisition of World Entertainment Broadcasting Corporation (doing business as "ARUSH Entertainment"), a privately held Scottsdale, Arizona based publisher of video and PC games. Under the terms of the transaction, Hip acquired all of the outstanding shares of ARUSH upon issuance of 871,312 common shares of Hip of which 55,607 are being held in escrow for a period of up to one year. Under the terms of the escrow agreement, the principal shareholder of ARUSH is entitled to purchase the escrowed shares from Hip at a price of $1.50 per share. Pursuant to the Agreement and Plan of Merger, Hip shall be obligated to pay additional purchase price consideration based on an earn-out arrangement through the period ended March 31, 2007. Hip expects the transaction to be accretive in fiscal 2005. "Hip has been an incredible partner for us over the past few years and this acquisition will allow us to become an important part of the Hip Interactive family," said Jim Perkins, President and CEO of ARUSH Entertainment. "Our focus will remain the same: publishing fun, exciting titles like Playboy: The Mansion across multiple platforms." Hip will acquire all of ARUSH’s rights to its current projects including the highly anticipated title Playboy: The Mansion for Xbox, PS2 and PC and the Fear Factor: Unleashed video games. "We have been partnering with ARUSH for a number of years now and are impressed with their ability to work with top brands to develop great video game titles," stated Arindra Singh, President & Chief Executive Officer of Hip Interactive. "The acquisition of ARUSH builds on our strategy of growth in our Hip Games division. ARUSH’s ability to source and license titles, along with management’s strong industry relationships will enable us to broaden Hip’s North American publishing presence."


Site Statistics

Registered Members: 43,984
Forum Posts: 725,144
Xbox One Titles: 655
Xbox 360 Titles: 1,084
Xbox 360 Kinect Titles: 95
Xbox 360 Arcade Titles: 583
Xbox Titles: 847
Staff Reviews: 1,448
Member Reviews: 10,339
News Articles: 13,082
Screenshots: 28,839
Xbox 360 Achievements: 45,112
Xbox 360 Faceplates: 2,016
Cheat Codes: 1,706

Latest News

See News Archives

Community Forum Activity

Games with Gold for November - Count me in
Post by TheOutcast-XBA
0 Replies, 20 Views

Xbox One Edition Limitee Borderlands The Handsome Collection
Post by oryanphine
1 Replies, 36 Views

Xbox One Edition Limitee et controllers
Post by oryanphine
1 Replies, 39 Views

GOW 4 Horde Credit and XP Earn Rate Updates
Post by Nato King
1 Replies, 71 Views

Post by Nato King
1 Replies, 64 Views

Red Dead Redemption 2 releasing Fall 2017
Post by Nato King
5 Replies, 114 Views

Xbox One S Protoype Zebra
Post by oryanphine
3 Replies, 157 Views

Xbox One South Korea Edition Limitee Mother Pearl
Post by oryanphine
1 Replies, 95 Views

Xbox One Official China Edition limitee Lunar New Year Monkey 2016
Post by oryanphine
2 Replies, 110 Views

Xbox Play Anywhere Set up.
Post by Nato King
6 Replies, 178 Views

CONTEST! Win a copy of Worms W.M.D.!
Post by Variation-XBA
9 Replies, 345 Views

The Gears of War 4 Live Broadcast Airs Today
Post by Nato King
7 Replies, 212 Views

Post by Nato King
9 Replies, 261 Views

Spoiler: First 12mintues of Battlefield 1
Post by Nato King
9 Replies, 246 Views

Custom Xbox Addict Controller!
Post by Variation-XBA
8 Replies, 322 Views

© 2000-2016 - All rights reserved. All trademarks are properties of their respective owners.
Xbox is a registered trademark of Microsoft. is not affiliated with Microsoft.

Made in Canada
Site Design by Cameron Graphics