Gameplay up for sale

The sign's in the window

By Robert Blincoe • Get more from this author

Posted in Business, 3rd April 2001 11:58 GMT

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Gameplay, the troubled multiplatform games outfit is up for sale.

Following informal chats with prospective buyers Gameplay's board has appointed Commerzbank Securities to assist the process.

In a statement, Gameplay's board said it "remains committed to positioning Gameplay at the forefront of digital delivery of games but is equally committed to maximisation of shareholder value particularly in the light of stockmarket conditions and the Company's current share price."

It sounds like sell, sell, sell.

Gameplay's board "believes that the current market valuation does not reflect the true underlying performance or potential of Gameplay".

On February 2, Gameplay announced it was axing 275 jobs as part of cuts saving £12.5 million a year. The Group was divided into two distinct operating divisions: the Technology Division and the Boxed Games Division.

Gameplay's interim results are due on April 30. ®