Sammy Buys Majority Stake In Sega

Officials from Japanese arcade giant Sammy have today announced that the company has acquired all shares in Sega previously held by CSK Corporation. The investment gives the company a majority stake of 22.4% in Sega. The two companies had previously been involved with merger talks earlier in the year, but a final deal fell through with Sammy management reportedly furious with the undiplomatic, and very public, manner with which Sega ended discussions – a foray that later lead to Sega’s president and COO stepping down. At a press conference today Sammy president and CEO Hajime Satomi told the assembled press that, "In the future, we may take an additional stake in Sega." He also commented that, "We won't rule out the possibility of making [Sega] a subsidiary."