Take-Two Interactive revealed more details of its purchase of han...
Take-Two Interactive revealed more details of its purchase of handheld game developer Mobius Entertainment (CED April 9 p8) in a 10-Q SEC filing. Take-Two said the purchase price was about $4.58 million -- $3.69 million in cash and a…
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payment of $887,000 due in March 2005. It said that, in connection with the acquisition, it recorded goodwill of $4.78 million on a preliminary basis and it was “in the process of completing the purchase price allocation.” Take-Two said it “also agreed to make additional contingent payments” of about $1.95 million “based on delivery of products, which will be recorded as additional purchase price when the conditions requiring their payment are met.” It said the pro forma impact of the acquisition for fiscal 2003 and 2004 “was not material.” Take- Two noted that Mobius was developing content for Sony’s upcoming PSP handheld game system. Separately, rival THQ said in a 10-K SEC filing that Wal-Mart was its #1 retail customer last year, represented 19% of its gross sales. It said Toys “R” Us representing 7% of sales, adding that its 10 largest customers accounted for 54% of sales vs. 60% a year ago. Other major retail accounts for THQ last year included Best Buy, Electronics Boutique, GameStop, KB Toys and Target. The publisher said that as of March 31, it had 796 full-time employees -- 609 of them in the U.S., 59 in the U.K., 56 in Germany, 21 in France, 45 in Australia, 4 in Korea and 2 in Singapore. THQ also said it now had games in development for the upcoming “Nintendo DS” dual- screen and Sony PSP handheld game systems “and will launch them when the platforms are released.”