NEWS - Thursday, August 30, 2001
Tremor teams up with New Systems
We have gotten our hands onto another press release for you kiddies. This one deals with the interactive game developer Tremor Entertainment, Inc. today announcing it has entered into a merger agreement with New Systems, Inc. Look below:
BURBANK, Calif.--(BUSINESS WIRE)--Aug. 30, 2001--Burbank, CA based interactive video game developer Tremor Entertainment, Inc., announced that it has entered into a merger agreement whereby Tremor will become a public company by merging with New Systems, Inc. (OTCBB:NEWY). In the merger, Tremor Entertainment shall merge with and into a wholly owned subsidiary of New Systems Inc., with Tremor being the surviving corporation. New Systems will change its name to Tremor Entertainment upon the effectiveness of the proposed merger."We have taken this step to further our natural growth and expansion plans," stated Mr. Steven Oshinsky, President and CEO of Tremor. "With the introduction of PlayStation 2 last year, and the upcoming release of Nintendo’s Gamecube and Microsoft’s Xbox, (Nasdaq:MSFT), the digital interactive entertainment industry is poised for major growth. We see substantial opportunity ahead for us in several new areas with our game division driving the marketing of ancillary products based on proprietary intellectual properties. With access to the capital markets we can fund the development of these properties in house while seeking partners for their marketing and distribution. Continued strength in the stocks of major game companies like Electronic Arts, (ERTS), and THQ Inc., (THQI) are also suggesting that continued growth is expected in the game sector, and it is into this strong and expanding environment that we have chosen to take Tremor public."
About Tremor Entertainment:
Tremor is currently under contract with Microsoft Corporation to create a brand new action fantasy title under the Microsoft label for the Xbox. The game is currently scheduled for a July 2002 delivery. Tremor has also worked with Take Two Entertainment, (TTWO) delivering Railroad Tycoon II and KISS Psycho Circus for the Sega Dreamcast console, (SEGNY) and Railroad Tycoon II for the Sony Playstation, (SNE). Tremor also developed Sega Swirl; a fun puzzle game that was included free with every Dreamcast sold.
Source: http://www.xboxaddict.com/
