Capcom buys Tenchu developer K2
Sunday, 30th March 2008 at 10:06 pm
'Closer ties with K2 will help increase the value of the entire Capcom Group,' says firm
Capcom plans to acquire Japanese studio K2, developer of the Tenchu series of stealth games.
The acquisition will be completed via an exchange of stock, with 201,720 Capcom shares to be issued to K2’s stakeholders.
In an official statement to shareholders, Capcom explained the motives behind the acquisition: “Upgrading development activities, which is the core competence of Capcom, is essential to the successful execution of the company's growth strategy. K2 has a proven record as a reliable provider of game development services for Capcom. By making this company a wholly owned subsidiary, Capcom plans to make its game development activities more efficient and speedy. Capcom also believes that pursuing a business strategy based on closer ties with K2 will help increase the value of the entire Capcom Group.”
The statement adds: “Capcom believes that making K2 a consolidated subsidiary will make it possible to allocate development resources more efficiently in response to shifts in market conditions. This is expected to facilitate the strategic development of software and create synergies. As a result, Capcom believes this exchange of stock will help improve customer satisfaction and make the company even more competitive."
The deal is expected to be closed on May 1st.
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