INFOGRAMES ENTERTAINMENT COMPLETES ACQUISITION OF HASBRO INTERACTIVE
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.