Infogrames Completes GT Buy

Infogrames Entertainment announced that it has completed its acquisition of a controlling stake in GT Interactive. Infogrames took the controlling interest with a total investment of $135 million. The companies are expected to combine many of their operations as GT looks to shift its interests and cut costs. On top of the influx of cash from Infogrames, GT will take a $70 charge in relation to it ongoing restructuring program. Infogrames looks to benefit by adding GT's robust North American distribution network to Infogrames established networks in Europe and Australia.