INFOGRAMES ENTERTAINMENT TO ACQUIRE HASBRO INTERACTIVE AND GAMES.COM
Will Gain Rights to Develop and Publish Interactive Games Based on Current and Future Hasbro Properties Through Long-Term Licensing Agreement
LYON, FRANCE, PAWTUCKET, RI, December 6, 2000 -- Infogrames Entertainment SA (Euronext 5257) and Hasbro, Inc. (NYSE:HAS) jointly announced today that they have entered into a strategic agreement, creating one of the foremost powerhouses in the mass market digital interactive entertainment world. The agreement is comprised of three main elements, including the Infogrames acquisition of Hasbro Interactive; a long-term licensing agreement giving Infogrames exclusive rights to develop and publish digital interactive games based on current and future Hasbro properties on all existing and future digital interactive formats; and the acquisition of Games.com.
Infogrames will purchase 100% of the common stock of Hasbro Interactive and Games.com for $100 million - comprised of $95 million in Infogrames Entertainment SA securities (approximately 4.5 million common shares) and $5 million in cash. In addition, Hasbro will receive an annual guarantee from Infogrames based on sales generated from the licensing agreement. The agreements are subject to the approval of the shareholders of Infogrames, regulatory approval and other customary closing conditions. The companies expect the deal to close early in the first calendar quarter of 2001.
"Infogrames and Hasbro are truly poised to become worldwide leaders in the digital entertainment market," said Bruno Bonnell, Chairman and CEO of Infogrames. "Infogrames' external growth strategy consists of three requirements: a willingness of the prospective partner's management to share our strategic vision, a complementary set of skills and products, and finally, value for our shareholders. The Hasbro Interactive and Games.com acquisition meets these criteria," said Mr. Bonnell. "Infogrames' access to Hasbro's long list of well-known properties fits perfectly with our long-term publishing strategy to become the leader in family entertainment. The terms are beneficial for Infogrames Entertainment, since they have no direct impact on the company's future investment capacity."
"This arrangement with Infogrames is a very positive one for Hasbro on many different levels," said Alan Hassenfeld, Hasbro's Chairman and CEO. "First, we have aligned ourselves with a premier player in the interactive arena. Second, this strategic agreement with Infogrames meshes with our strategy of reducing costs as we focus on consistently delivering profits going forward. Third, this arrangement will provide a continuing revenue stream to Hasbro over the long-term through Infogrames' expertise in leveraging our current and future properties."
The agreement is comprised of three main elements:
Infogrames Entertainment's acquisition of 100% of the common stock of Hasbro Interactive, a subsidiary of Hasbro, Inc.
The acquisition gives Infogrames a catalog of titles based on well-known properties, including:
· The MICROPROSE brand and titles, including the international hit CIVILIZATION, FALCON, and ROLLER COASTER TYCOON, the number one selling PC game in the US according to PC DATA'S latest report.
· The legendary ATARI name and properties, such as CENTIPEDE, MISSILE COMMAND, and the historic PONG, which pioneered the video game revolution.
The exclusive rights to develop and publish interactive games based on current and future Hasbro, Inc. properties, including:
· The interactive versions of popular Hasbro board games, which include MONOPOLY, SCRABBLE1, CLUE, RISK, and BOGGLE.
· The interactive versions of children's games and toys, such as MR. POTATO HEAD, TONKA TRUCKS, ACTION MAN, MY LITTLE PONY, and CANDYLAND.
· The massively multi-player game DUNGEONS AND DRAGONS.
Under the terms of the agreement, Infogrames gains the rights through a licensing agreement with Hasbro to develop games based on Hasbro properties for a period of 15 years plus an option for an additional 5 years based on performance, on all existing and future digital interactive formats. Terms of the licensing agreement are consistent with other traditional Infogrames' Entertainment licensing agreements.
These formats include: current and next-generation video game consoles such as Sony PlayStation2, Microsoft Xbox, Sega Dreamcast, and Nintendo GameBoy Advance and GameCube, personal computers, broadband networks, interactive television, cellular telephones, arcade, and hand-held devices (PDAs). In keeping with its global multi-platform strategy, Infogrames will leverage Hasbro's unmatched content by developing titles on a variety of platforms that appeal to a global market.
These Hasbro Interactive brands, together with Hasbro's owned brands, make up a catalog of more than 200 family titles that are being managed by a team of mass market product experts who have helped Hasbro Interactive succeed in becoming the third largest PC publisher in the U.S.
Additionally, approximately 60 titles are currently in development, including PlayStation2 and Xbox versions of franchises from HASBRO, MICROPROSE and ATARI: ZOO TYCOON, MONOPOLY, MICRO MACHINES, TWISTER, CIRCUS MAXIMUS, CIVILIZATION, and GRAND PRIX 4.
Infogrames will also seek out additional partnership opportunities with telecommunications providers, media companies and hardware manufacturers to bring these franchises to other platforms.
The long term licensing agreement combines Hasbro's expertise in developing successful mass-market properties and Infogrames' expertise in bringing top properties to the digital interactive market.
Hasbro's catalog of games and toys will be strengthened by their digital interactive counterparts, published and globally distributed by Infogrames. In addition, Infogrames' titles based on Hasbro properties will benefit from Hasbro's powerful marketing programs for their games and toys.
Acquisition of Games.com
As part of the agreement,
Infogrames acquires Games.com, an online games portal launching in early
2001. Games.com has already attracted over four million visitors to its site,
with more than one million people having already registered to receive
information about its launch.
At its launch, Games.com will allow visitors to play more than 30 online
games based on Hasbro properties, some of which include MONOPOLY, CLUE,
SCRABBLE1, ASTEROIDS, and RISK. In addition, visitors to the site can find
news, information, tips and hints about games featured on Games.com.
Visitors to the site will also have the ability to chat with other players and participate in tournaments based on widely recognized games from the Hasbro catalog. Games.com's revenue strategy includes e-commerce, sponsorships and individual subscriptions. Infogrames plans to extend Games.com to broadband users in the future.
JP Morgan & Lazard
Freres advised Infogrames and Salomon Smith Barney advised Hasbro in this
financial transaction.
For additional information,
Infogrames has posted a detailed presentation on today's announcement at
www.infogrames.com and www.infogrames-corporate.com.
Infogrames Entertainment SA (Euronext 5257) is a worldwide leader in
the interactive entertainment software industry. Headquartered in France,
the company publishes and distributes award-winning computer and video games
for the PlayStation® game console, PlayStation® 2 computer entertainment
system, MicrosoftÒ Xbox, Nintendo® 64, Nintendo® Game Boy®
Color, Sega® Dreamcast™, Macintosh®, and personal computer
platforms, as well as interactive digital television platforms, mobile smart
devices (WAP, HDML) and in-flight entertainment systems. Founded in 1983
by chairman and CEO Bruno Bonnell, Infogrames has published many award-winning
franchises in its 17-year history, such as Alone In The Dark™, Test
Drive®, Driver™, Deer HunterÒ, Oddworld™, UnrealÔ,
and V-Rally™. The company is also known for its best-selling and
award-winning line of children's entertainment software from Humongous
Entertainment® starring Putt-Putt®, Freddi Fish™, Pajama Sam®
and SPY Fox™, as well as its successful Macintosh publishing label,
Macsoft, the number one publisher of Macintosh entertainment software. In
addition, Infogrames has a number of key strategic licenses including Warner
Bros. Looney Tunes™, Nickelodeon's Blue's Clues™, AM General
Hummer®, and Harley-Davidson®. Infogrames distributes its games in
approximately 60 different countries worldwide. For more information, visit
Infogrames' US Web site at
www.us.infogrames.com.
Based in New York, NY, Infogrames, Inc. (Nasdaq: IFGM) is a majority-owned subsidiary of Infogrames Entertainment SA and serves as the headquarters for the company's operations in North America.
Hasbro is a worldwide
leader in children's and family leisure time entertainment products and services,
including the design, manufacture and marketing of games and toys ranging
from traditional to high-tech. Both internationally and in the U.S., its
PLAYSKOOL, TONKA, SUPER SOAKER, MILTON BRADLEY, PARKER BROTHERS, TIGER and
WIZARDS OF THE COAST brands and products provide the highest quality and
most recognizable play experiences in the world.
SAFE HARBOR STATEMENT
Certain statements
contained in this release contain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. These statements
may be identified by the use of forward-looking words or phrases such as
"anticipate", "believe", "could", "expect", "intend", "may", "planned",
"potential", "should", "will" and "would". Such forward-looking statements
are inherently subject to known and unknown risks and uncertainties. Actual
actions or results may differ materially from those expected or anticipated
in the forward-looking statements. Specific factors that might cause such
a difference include, but are not limited to, third party actions or approvals
that could delay or increase the cost of implementation of the strategic
agreement or alter actions and reduce actual results; the risk that anticipated
benefits of the strategic agreement may not occur or be delayed or reduced
in their realization; and with respect to the online game site initiative,
technical difficulties in adapting games to online format and establishing
the online game site that could delay or increase the cost of the site becoming
operational; the acceptance by consumers of the games and other products
and services to be offered at the site; competition from other online game
sites and other game playing formats; and the fact online game revenues may
not be sufficient to cover the significant advertising and other expenditures
required or the support, service and product enhancement demands of online
users. There is no undertaking of an obligation to make any revisions to
the forward-looking statements contained in this release or to update them
to reflect events or circumstances occurring after the date of this
release.
Contacts:
Infogrames:
Erica Krishnamurthy/Tom Richardson (Press Relations) 408-985-1700
[email protected],
[email protected]
John Menditto (Investor Relations) 212-726-4294
[email protected]
Hasbro: Wayne Charness (Press Relations) 401-727-5983
[email protected]
Karen Warren (Investor Relations) 401-727-5401
[email protected]
CHAMPIONSHIP RALLY FOR THE ATARI LYNX 12/07/00 -
LYNX FANS, IT'S RALLY TIME!
December 7, 2000
For immediate release:
ROCHESTER, MN -- Songbird is pleased to announce December 15, 2000, as the official limited-release date for Championship Rally on the Atari Lynx.
Championship Rally is an incredible overhead racer featuring 7 unique tracks, powerups and pitfalls, and highly detailed graphics accompanied by rumbling audio. Try your hand at solo gaming with Tournament, Single Race, and Time Trial, or use your comlynx cable and second copy of Championship Rally on another Lynx to race head-to-head against a buddy in Versus. Plus, look for cheat codes, shortcuts, and more! This is the biggest, most ambitious, options-loaded Lynx game ever released by Songbird, and is a must-have for any Atari fan.
Orders are being accepted immediately for this exciting new game. Songbird will make every attempt to fill early orders by Christmas, but based on availability and the timeliness of orders, it is possible some orders will only be filled in January 2001. MSRP for Championship Rally is $42.95.
Songbird Productions is the premier developer and publisher for the Atari Lynx and Jaguar. To keep up to date with the latest news at Songbird Productions, be sure to visit the company web site at http://songbird.atari.net.
This message may be reprinted in its entirety.
JAGFEST 2K1 PLANS MADE OFFICIAL 12/03/00 -
December 2, 2000 - Go Beyond Tempest at Jagfest 2K1
The GOAT Store, an online store specializing in the support of classic video games, has agreed to host Jagfest 2K1 in Milwaukee, WI on June 30, 2001. The fifth annual event that centers around the Atari Jaguar system, but will be expanding as it has in the past to include all classic video game systems and even classic computers.
"The event is going to be subtitled, 'Beyond Tempest'," said Dan Loosen of the GOAT Store, "because with all of the great products that have come out for the Jaguar in the past year, it is definately true that we have moved beyond the storm of doubt and disbelief and can now look at a very bright future for the Jaguar and all of Atari."
This years event will include an exhibit of every Jaguar game ever made, rare Atari games, systems, prototypes and many more surprises! There will also be a vast array of tournaments, with the GOAT Store supplying prizes to the winners.
Admission for this years event will be $8.00 for pre-registers and $10.00 for tickets at the door. Tickets will go on sale January 1, 2001.
"Jagfest is a great oppurtunity for anyone with an interest in Atari to explore many rare and one-of-a-kind items and meet some new friends while doing it!" said Gary Heil. "I think that Milwaukee is a great location, and we will build on the success of past Jagfests to make Beyond Tempest into the best Jagfest yet."
Please make sure to visit the Official Jagfest 2K1: Beyond Tempest Web site at the GOAT Store (http://www.goatstore.com). Dan Loosen can be reached at [email protected] and Gary Heil can be reached at [email protected] for more information.
NEWS BITS FROM JI 11/22/00 - NEWS FLASH! Vampire Hunters: South Club is not coming out! This highly anticipated game from the highly respected completely truthful Jaguar developer Minux was sadly just a "front"*. Now on to other news:
Hasbro Interactive's Atari site is down. No one is sure why this site is down, it could be that it is down for a big update, or maybe there is another reason . . .?
The Jaguar Top 50's webmasters Appleseed and cobracf2 have apparently had a big disagreement over whether or not to have people send in pictures to verify their score. It now seems that Cobracf2 has booted out Appleseed and now Jagman is going to help out at the Jag Top 50.
AtariVision is down. Clint Thompson, the webmaster of AtariVision, stated that he expected the site "to be back online sometime early next year."
CHRISTMAS GOODIES FROM SONGBIRD
11/21/00 -
November 21, 2000
For immediate release:
ROCHESTER, MN -- Songbird Productions is pleased to announce some Christmas
goodies for Atari Lynx and Jaguar fans.
Topping off the list is Championship Rally for the Atari Lynx. This incredible overhead racer features 7 unique tracks, powerups and pitfalls, tons of options, and highly detailed graphics accompanied by rumbling audio. Try your hand at solo gaming with Tournament, Single Race, and Time Trial, or use your comlynx cable and second copy of Championship Rally on another Lynx to race head-to-head against a buddy in Versus. Plus, look for cheat codes, shortcuts, and more! This game is a must-have for any Lynx fan.
Championship Rally is scheduled for a December 2000 release, and is currently in production. Look for the official release announcement, including ordering information, in the next few weeks.
Jaguar fans won't be left in the cold, either. Several Rapid Fire Controllers are still in stock, but hurry, there aren't many left and at press time it was unknown if more of these devices will be built in the future.
Plus, pick up the Songbird C2K (Christmas 2000) Kit, available today! This kit includes:
* Full-color glossy Skyhammer overlay
* Full-color glossy Worms overlay
* B&W glossy Songbird ad / price list from CGE2K -- great collector's
item!
Pricing on the Songbird C2K Kit is as follows:
* $5 for USA customers
* $6 for International customers
* $3 (WOW!) for any customer when you order any other item(s) from the Songbird
catalog
No additional shipping fee applies for the Songbird C2K kit when purchased separately. Normal shipping charges apply for any other items ordered.
Songbird Productions is the premier developer and publisher for the Atari
Lynx and Jaguar. To keep up to date with the latest news at Songbird Productions,
be sure to visit the company web site at http://songbird.atari.net.
This message may be reprinted in its entirety.
Carl Forhan
Songbird Productions
http://songbird.atari.net