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Midway Europe Sold In Management Buy-Out

by Rainier on Aug. 20, 2009 @ 12:39 p.m. PDT

As revealed a few weeks ago, Spiess Media Holding, a company owned by Midway Games' Exec Vice President - International Martin Spiess, has purchased the UK and French offices, while F & F Publishing GmbH, a company owned by Midway Games' General Manager Uwe Fürstenberg and Finance Director Hans Meyer, have purchased the German office.

Through the transactions, the European publishing and distribution branches of Midway are secured in all three key European markets. Both Spiess and Fürstenberg will be leading their newly acquired companies as interactive entertainment distribution and publishing service providers. Plans are also underway to form a strategic alliance and use the combined forces of the European organisations as an efficient European network.

“We are very pleased that the European management team has come together to purchase Midway’s European organisation,” commented Matthew Booty, chairman, CEO and president of US-based Midway Games Inc. “Our European publishing and distribution business had consistently grown year-on-year under the leadership of Martin Spiess. These European operations are comprised of a strong network of developers and publishers from around the globe and are based around an excellent team that has proven its expertise and know-how in game production.”

“The European branch of Midway had been a significant contributor to the worldwide Midway organisation. Most recently, the European arm had contributed almost 40% of Midway's worldwide revenues,” said Martin Spiess. “We very much look forward to the challenge of participating in the growing key European markets as a streamlined, powerful, and independent full-service videogames distribution and publishing business.”

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