Activision acquires Gray Matter

By Gestalt Published 14 January, 2002

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Source - Reuters

Activision has announced that it has bought Gray Matter, the developer behind the single player side of Return To Castle Wolfenstein. Reports suggest that the game has already shifted at least half a million units worldwide since its December release, making it a solid hit by PC standards. The take-over deal sees the publisher excercising an option in its contract with Gray Matter to acquire control of the remaining 60% of the developer (they already owned the other 40%) in exchange for 133,690 Activison shares, worth about $3m at the moment. This comes in the wake of Activision's recent acquisition of another of its big third party developers, Treyarch, while the publisher also owns other popular studios such as Soldier of Fortune developers Raven. What Activision has in mind for Gray Matter isn't yet clear, although several key staff have apparently signed on to remain at the company under its new ownership. Related Feature - Activision buys Treyarch

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