Feeds

Infogrames grabs Gremlin for £22.9 million

French games publisher takes over ailing British developer

  • alert
  • submit to reddit

Bridging the IT gap between rising business demands and ageing tools

French games developer Infogrames has bought loss-making British games company Gremlin for £22.9 million in cash. Gremlin became a well-known name in the UK gaming community with its innovative sports titles, and went on to become popular with investors when it floated on the British stock exchange in July 1997. However, a lack of top-selling titles in the face of aggressive competition from other UK games publishers, most notably Eidos and Electronic Arts' EA Sports brand, saw Gremlin's fortunes begin to fade. Its most recent set of results, for the first half of the current financial year, saw the company post a loss of £799,000, well down on the £1.7 million profit it made for the same period the year before. During the last six months of calendar 1998, growing concern that Gremlin might no longer be able to generate sufficient sales to balance its high marketing and development costs pushed the company's shares down 60 per cent. The picture improved after Gremlin admitted earlier this year that it was in talks with possible buyers, including Infogrames, with which it signed a European distribution agreement last year. ®

Build a business case: developing custom apps

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple ran off to IBM
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.