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October 11, 2004
1 Min Read
Officials from Midway Games announced that the company has acquired Texas-based Inevitable Entertainment, a studio currently working on Area 51 for the publisher. The acquisition was made in an all-stock transaction for 218,421 Midway common shares. 152,824 restricted shares of Midway common stock were also issued to key Inevitable employees as retention incentives. The restrictions on the stock will be removed over a period of three years, provided the employees remain at the company. Inevitable will be renamed "Midway Studios – Austin", fulfilling Midway’s previously stated desire to open a studio in the area. The developer’s previous titles are Tribes: Aerial Assault for the PlayStation 2 and the multi-format release of The Hobbit.
About the Author(s)
David Jenkins ([email protected]) is a freelance writer and journalist working in the UK. As well as being a regular news contributor to Gamasutra.com, he also writes for newsstand magazines Cube, Games TM and Edge, in addition to working for companies including BBC Worldwide, Disney, Amazon and Telewest.
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