Take-Two Acquire TDK Mediactive

Officials from Take-Two have today announced that the company has completed the purchase of California based publisher TDK Mediactive. The terms of the acquisition were altered slightly from those previously announced, to reflect the termination of TDK’s publishing rights for the Shrek movie franchise. In the end the company purchased TDK for approximately $12.8 million, consisting of $0.55 per share for each of the 23,005,885 shares outstanding (approximately $12.6 million) and approximately $0.2 million to retire outstanding stock options. In addition, as a condition to the purchase agreement, Take-Two has satisfied approximately $9.7 million of outstanding liabilities. The acquisition now gives Take-Two access to licensed properties such as The Haunted Mansion, Pirates of the Caribbean, The Land Before time, Robotech, The Muppets, and Corvette.