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As WP's managing editor, I edit review and preview articles, attempt to keep up with the frantic pace of Rainier's news posts, and keep our reviewers on deadline, which is akin to herding cats. When I have a moment to myself and don't have my nose in a book, I like to play action/RPG, adventure and platforming games.


'Tiger Telematics' Acquires 'Warthog'

by Judy on Nov. 3, 2004 @ 6:56 a.m. PST

Tiger Telematics Inc announced today the acquisition of Warthog Plc's subsidiaries, intellectual properties and assets, in a move to further expand their games development agenda and management infrastructure. As a subsidiary of Tiger Telematics, Gizmondo Europe Ltd will be the primary beneficiary of this strategic positioning within the game development sector.

The deal brings with it a fantastic games portfolio of 12 additional games for development on the Gizmondo. Also included is Warthog's immensely powerful, proprietary game engine porting tool, named Tusk, which will significantly speed up the conversion process of third-party games currently being signed to the new format. To highlight this, the recently signed Richard Burns Rally will be presented for the first time at the Best of Stuff show in London this weekend, showcasing the awesome 3D abilities of the Gizmondo's onboard Nvidia graphics accelerator.

The deal brokered by Durlacher, who were retained to act as exclusive financial advisors for this hugely significant UK acquisition, comprises cash payments of $1,113,000 and 497,866 shares of common stock in TGTL, to be held in escrow. Upon completion of the transaction, the executive directors Ashley Hall, Steven Law and Simon Elms transferred their employment to TGTL.

Carl Freer, MD, Gizmondo Europe, said: "We're absolutely delighted with this acquisition and the fantastic opportunities it presents. This is a synergistic transaction that will allow us to strengthen management of our own game development, and reduce ongoing costs within this area of the business." He continued, "The vertical integration of Warthog and it subsidiaries will also provide us with a scaleable infrastructure as we quicken the pace over the next few months"

Ashley Hall, CEO, Warthog plc, added: "We're extremely excited with the outcome of the deal, not only for the development potential of the device, but also being able to introduce a new audience to titles from our portfolio. This promises to be a thrilling ride for both companies."

Aubrey Powell, Director of Corporate Finance, Durlacher, said: "We are very pleased to have been able to assist the Tiger Telematics team at this pivotal time in the company's development. Games developed by Warthog have sold in excess of five million units to date, so this transaction brings existing and pipeline game content to Gizmondo, which should help to drive sales of their newly launched multimedia device."

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