Activision Acquires Dave Mirra Developer, Z-Axis

Z-Axis is currently developing Dave Mirra Freestyle BMX 3 and Aggressive Inline, and previously created Dave Mirra Freestyle BMX 2, Dave Mirra Freestyle BMX: Maximum Remix, Dave Mirra Freestyle BMX and Thrasher: Skate and Destroy. Founded in 1994 by David Luntz, Z-Axis is headquartered in Hayward, CA and comprises two development teams. This is the company's fourth acquisition in seven months, following the purchase of Treyarch, Grey Matter Interactive and Shaba Games. Yesterday it also announced an investment in Infinity Ward. Under the terms of the agreement, Z-Axis has become a wholly owned subsidiary of Activision. Activision has agreed to pay Z-Axis' equity holders $20.5 million in cash and Activision common stock. Up to 93,446 additional shares of Activision common stock also may be issued to the company's equity holders over the course of several years, depending on certain performance requirements. As part of the transaction, the Z-Axis management team and key employees have signed long-term employment contracts with Activision.