Marvelous sells stake in Rising Star
Sales lower than expected, says report.
Marvelous Entertainment has sold its 50 per cent stake in Rising Star Games.
Rising Star is the company set up to publish the likes of Harvest Moon, No More Heroes and Little King's Story in Europe. According to Siliconera, Marvelous sold the stake because of tough market decisions and the fact Western sales failed to meet expectations.
The 50 per cent stake has been snapped up by Intergrow, a Japanese firm which deals with video, PC and mobile phone games. Intergrow helped bring the likes of Overturn and Happy Party With Hello Kitty to the UK.
UPDATE: Since this story was originally published, Rising Star has been in touch to clarify the situation. Intergrow has purchased the shares but Rising Star will continue to publish Marvelous games.
"I am delighted to have secured further additional backing from an important Japanese company, whilst continuing our content relationship with Marvelous Entertainment," said Rising Star boss Martin Defries.
"It is further vindication that Rising Star Games has the right strategy, outlook and prospects. We've an exciting release line-up for the next quarter and will soon make announcements for product due later in 2010 that emphasise our growth and optimism."