Feeds

Wireplay up for sale

Gameplay Plc reduced to a shell

  • alert
  • submit to reddit

Mobile application security vulnerability report

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 Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
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 fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
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
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
prev story

Whitepapers

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.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
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.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.