Activision Buys Gray Matter

by Maarten Goldstein Jan 14, 2002 8:16am CST tags: Activision, Return to Castle Wolfenstein
Activision has put out a press release announcing they have acquired Gray Matter Interactive, the developers of the single player part of Return to Castle Wolfenstein. Not too surprising as Activision likes to buy developers that bring them the good selling games.
Gray Matter Interactive Studios is an L.A.-based game developer founded by the top designers formerly from Xatrix Entertainment, the developer of such popular games as Redneck Rampage and Kingpin. The company has proprietary technologies that can be used to create compelling first-person action entertainment experiences. Industry veteran Drew Markham has signed a long- term employment contract with Activision and will continue to manage Gray Matter studios. Additionally, key employees also have signed long-term employment contracts with Activision.

Under the terms of the agreement, Gray Matter Interactive Studios will become a wholly owned subsidiary of Activision. Activision issued 133,690 shares of common stock in connection with the acquisition.

update Jack - Made this a full story. Also, based on today's share price that looks like a buyout price of $3.2 million. Congrats guys.
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