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Gameplay sells subsidiary for $1

Israeli company buys technology division

Gameplay's demise continues apace this week, with their bizarrely named Toga Holdings Unit (which includes the entity formerly known as Gameplay Technologies) the latest subsidiary to be sold off at a bargain basement price. In this case the lucky purchaser was an unknown Israeli investment group, which paid the princely sum of $1 - equivalent to 71p or €1.18 at current exchange rates. This is somewhat more than the 1 Krona (7p) paid for their Nordic boxed games division, but rather less than the gargantuan £1 they earned by selling their UK boxed games division to a management buy-out team in May. The sale of all three divisions combined raised less than the value of a single Gameplay share during the company's peak in March 2000.

Source - Ananova

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