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Wanadoo Sells Offline Games Business To MC2 Entertainment

by Rainier on Oct. 1, 2003 @ 12:19 p.m. PDT

Wanadoo today announced the sale of its subsidiary Wanadoo Edition (28.2 million euros of revenues in 2002) to MC2 Entertainment, the company created in order to take over Microids on June 27 of this year. Upon completion of the transaction Wanadoo will hold 12 percent of MC2 Entertainment.

The sale allows Wanadoo to refocus its strategy on online games, centered around its Goa label. At the same time, the Wanadoo Edition catalogue gains access to the North American market through MC2's Canadian subsidiary, Microids Canada.

Wanadoo and MC2 Entertainment are cooperating in this initiative since they share the belief that the entertainment software market is moving towards a label-based structure.

Ties between the Wanadoo group and MC2 Entertainment -- which already distributes Wanadoo Edition products in Italy -- have been further strengthened by a related agreement, under the terms of which MC2 Entertainment will distribute Wanadoo online games in key European markets.

Jean-Marc Steffann, Wanadoo France Senior Vice President, Portals, said: "This agreement secures the continuity of Wanadoo Edition's business while maintaining synergies with Goa, our online gaming portal."

Emmanuel Olivier, Chairman of MC2 Entertainment, stated: "The label-driven structure of the market is clearly the way forward for interactive entertainment content, putting creativity at the heart of operations."

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