'Warthog' Acquires 'Fever Pitch' Developer
by Rainier on Feb. 5, 2003 @ 10:29 a.m. PST | Filed under News
Warthog today announces that it has acquired the American development studio, Fever Pitch, based in Austin, Texas. The business has been acquired for an initial consideration of £183,000 ($300,000) to be satisfied by the issue of 973,015 new ordinary Warthog shares (the "Initial Consideration Shares"). Further Warthog shares will be issued for each financial period up to 31 March 2005 dependent on Fever Pitch achieving annual pre-tax profits in excess of $100,000 for each financial period. The acquisition is immediately cash flow and earnings enhancing.