Feeds

Wireplay up for sale

Gameplay Plc reduced to a shell

  • alert
  • submit to reddit

New hybrid storage solutions

Gameplay Plc is looking to sell its multi-player games service, Wireplay, after suspending the operation last Friday.

It was hoped that Wireplay could be saved by turning it into a subscription-based service but this failed to get off the ground.

A spokeswoman for the company confirmed that it was seeking a buyer for Wireplay but would not disclose whether Gameplay Plc was talking to any interested parties.

However, what's left is little more than a shell company.

The company has yet to make an official statement about its future.

Gameplay Plc's rise and fall as one of the UK's leading dotcoms goes hand-in-hand with the boom and bust of the dotcom bubble.

Gameplay.com - as it was known then - burst onto the Alternative Investment Market in August 1999.

It raised £31 million - £10 million more than expected - when it floated after its offering was oversubscribed, valuing the company at £53.6 million.

Its aim was to become Europe's leading on-line computer games portal and games community.

It spent £5.1 million acquiring a UK boxed games supplier, Interactive Commercial Enterprises Limited, and £5.5 million acquiring Wireplay from BT.

What followed was an aggressive period of acquisitions, partnerships and new deals that helped diversify and expand Gameplay.com's operation into Europe.

Publishing its maiden results in October 2000 it said this rapid expansion was coming to an end as it reported pre-tax losses of £33.5 million on revenues of £23 million.

At its height in March 2000 Gameplay shares were worth more than 1000p - four months later they had fallen to around 200p. By February 2001, its share price had tumbled below 100p prompting Gameplay Plc - as it was now known - to reassure investors that it had a long-term future.

It had already cut costs by axing almost 300 jobs, but this failed to prevent its slide.

In May this year Gameplay Plc sold its retail sales games operation in the UK and the Nordics for the total of £1.07.

What's left of the company has also been sold off.

Oh well. ®

Related Stories

Gameplay puts the For Sale sign out again as losses soar
Gameplay division sold for £1
Gameplay axes 275 jobs
Gameplay prelims make you Quake

The next step in data security

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.