NEWS - Monday, January 24, 2005

Take Two Buys Visual Concepts.

Take Two Buys Visual Concepts January 24, 2005 - Take Two has purchased Visual Concepts, SEGA’s acclaimed sports studio and developer of titles such as ESPN NFL 2K5, according to an article today in the San Francisco Business Times. The buy, reportedly priced at $24 million, includes Visual Concepts sub-label Kush. Word of the buy comes just hours after Take Two announced exclusive third-party rights to the Major League Baseball brand. As part of last year’s publishing agreement between the two companies, Take Two had the option to buy the Visual Concepts studio. Given the recent battering from primary competitor EA (the gaming giant’s NFL and ESPN exclusives), it appears SEGA saw little value left in its sports line-up. The Times quotes SEGA CEO Naoya Tsurumi: "The ESPN Videogames line has not been a key profit driver in the North American market for Sega." According to the article, SEGA will help distribute Take Two titles in Asia, and Take Two will bring Visual Concepts titles to SEGA arcade machines. Visual Concepts is expected to make an official announcement regarding the deal tomorrow morning. We’ll be there, bringing you more as news comes in.


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